Federally Chartered Corporation: Review of the Financial Statement Audit
Reports for the Gold Star Wives of America for Fiscal Years 1997-2000
(Correspondence, 02/20/2001, GAO/GAO-01-398R).

GAO reviewed the financial statement audit reports for the Gold Star
Wives of America for fiscal years 1997 through 2000. GAO found no
reportable instances of noncompliance with the requirements of the law,
and the audit reports included the auditors' opinions that the financial
statements of the corporation were presented fairly in accordance with
generally accepted accounting principles.

--------------------------- Indexing Terms -----------------------------

 REPORTNUM:  GAO-01-398R
     TITLE:  Federally Chartered Corporation: Review of the Financial
	     Statement Audit Reports for the Gold Star Wives of
	     America for Fiscal Years 1997-2000
      DATE:  02/20/2001
   SUBJECT:  Accounting standards
	     Audit reports
	     Federal corporations
	     Financial records
	     Financial statement audits
	     Reporting requirements
	     Corporate audits

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GAO-01-398R

Gold Star Wives of America

United States General Accounting Office Washington, DC 20548

February 20, 2001 The Honorable F. James Sensenbrenner, Jr. Chairman,
Committee on the Judiciary House of Representatives

Subject: Federally Chartered Corporation: Review of the Financial Statement
Audit Reports for the Gold Star Wives of America for Fiscal Years 1997- 2000

Dear Mr. Chairman: As requested, we reviewed the audit reports covering the
financial statements of the Gold Star Wives of America, a federally
chartered corporation, for the fiscal years ended May 31, 2000, 1999, 1998,
and 1997. The corporation's purpose is to operate in the public interest for
patriotic, charitable, literary, educational, scientific or civic
improvement purposes to honor the memory of those who have served the United
States.

Federally chartered corporations are required under 36 U. S. C. 10101 to

present the corporation's assets and liabilities and reasonable detail on
the corporation's income and expenses in annual financial statements,

obtain an annual financial audit by an independent public accountant, and

submit the auditors' report and the corporation's financial statements to
the Congress.

The objective of our review was to determine whether the audit reports
complied with the financial reporting requirements of the law. In carrying
out our work, we reviewed the corporation's financial statements and the
accompanying notes, performed certain analytical procedures related to
information presented in the financial statements, reviewed the auditors'
reports, and made inquiries to corporation officials or the auditors as we
deemed necessary. We did not review the auditors' working papers. Our review
disclosed no reportable instances of noncompliance.

GAO- 01- 398R Gold Star Wives of America Page 2 The audit reports included
the auditors' opinions that the financial statements of the

corporation were presented fairly in accordance with generally accepted
accounting principles. We are returning the audit reports you sent with your
letter.

Sincerely yours, Jeffrey C. Steinhoff Managing Director Financial Management
and Assurance

w/ o Enclosures (194010)
*** End of document. ***