Federally Chartered Corporation: Review of the Financial	 
Statement Audit Report for the Non Commissioned Officers	 
Association of the United States of America, Inc. for 1999 and	 
1998 (27-APR-01, GAO-01-646R).					 
								 
GAO reviewed the audit report covering the financial statements  
of the Non Commissioned Officers Association of the United States
of America, Inc., for the years ended December 31, 1999. GAO's	 
review disclosed no reportable instances of noncompliance with	 
the requirements of the law. 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-01-646R					        
    ACCNO:   A00916						        
  TITLE:     Federally Chartered Corporation: Review of the Financial 
Statement Audit Report for the Non Commissioned Officers	 
Association of the United States of America, Inc. for 1999 and	 
1998								 
     DATE:   04/27/2001 
  SUBJECT:   Financial statement audits 			 
	     Accounting standards				 
	     Audit reports					 
	     Federal corporations				 
	     Reporting requirements				 

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GAO-01-646R

Non Commissioned Officers Association of the U. S. A., Inc.

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 Non Commissioned Officers Association of the United
States of America, Inc. for 1999 and 1998

Dear Mr. Chairman: As requested, we reviewed the audit report covering the
financial statements of the Non Commissioned Officers Association of the
United States of America, Inc., a federally chartered corporation, for the
years ended December 31, 1999 and 1998. The corporation is an association of
active, reserve, national guard, and retired non commissioned and petty
officers of the Armed Forces of the United States of America.

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- 646R Non Commissioned Officers Association of the U. S. A., Inc.
Page 2 The corporation reported that its liabilities exceeded its assets by
approximately

$598,000 and $541,000 at the end of 1999 and 1998, respectively. The audit
report included the auditors? opinion that the financial statements of the
corporation were presented fairly in accordance with generally accepted
accounting principles. 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 (194027)
*** End of document ***