Federally Chartered Corporation: Review of the Financial	 
Statement Audit Report for the Congressional Medal of Honor	 
Society of the United States of America for 1999 (27-APR-01,	 
GAO-01-641R).							 
								 
GAO reviewed the audit report covering the financial statements  
of the Congressional Medal of Honor Society of the United States 
of America for 1999 to determine whether the audit report	 
complied with the financial reporting requirements of the law.	 
GAO found no reportable instances of noncompliance. The audit	 
report included the auditors' opinion that the financial	 
statements of the corporation were presented fairly on a modified
cash basis of accounting.					 
-------------------------Indexing Terms------------------------- 
REPORTNUM:   GAO-01-641R					        
    ACCNO:   A00919						        
  TITLE:     Federally Chartered Corporation: Review of the Financial 
             Statement Audit Report for the Congressional Medal of Honor      
             Society of the United States of America for 1999                 
     DATE:   04/27/2001 
  SUBJECT:   Accounting standards				 
	     Audit reports					 
	     Federal corporations				 
	     Financial statement audits 			 
	     Reporting requirements				 

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GAO-01-641R

Congressional Medal of Honor Society of the United States of
America

United States General Accounting Office Washington, DC 20548

April 27, 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 Report for the Congressional Medal of Honor Society of the United
States of America for 1999

Dear Mr. Chairman: As requested, we reviewed the audit report covering the
financial statements of the Congressional Medal of Honor Society of the
United States of America, a federally chartered corporation, for the year
ended December 31, 1999. The society?s purposes are to preserve the dignity
and honor of the Medal, protect its recipients from exploitation, foster
patriotism, and inspire youth to worthy citizenship.

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 report
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?
report, 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- 641R Congressional Medal of Honor Society of the United States of
America Page 2 The audit report included the auditors? opinion that the
financial statements of the

corporation were presented fairly on a modified cash basis of accounting. We
are returning the audit report you sent with your letter.

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

w/ o Enclosure (194021)
*** End of document. ***