Federally Chartered Corporation: Review of the Financial	 
Statement Audit Report for the American Gold Star Mothers,	 
Incorporated, for Fiscal Years 2000 and 1999 (25-JUN-01,	 
GAO-01-890R).							 
								 
GAO reviewed the audit report covering the financial statements  
of the American Gold Star Mothers, Incorporated, for the fiscal  
years 2000 and 1999 to determine if the audit report complied	 
with the financial reporting requirements of the law. GAO found  
no reportable instances of noncompliance, and the audit report	 
included the auditors' opinions that the financial statements of 
the corporation were presented fairly on a modified cash basis of
accounting.							 
-------------------------Indexing Terms------------------------- 
REPORTNUM:   GAO-01-890R					        
    ACCNO:   A01281						        
  TITLE:     Federally Chartered Corporation: Review of the Financial 
             Statement Audit Report for the American Gold Star Mothers,       
             Incorporated, for Fiscal Years 2000 and 1999                     
     DATE:   06/25/2001 
  SUBJECT:   Federal corporations				 
	     Financial statement audits 			 
	     Audit reports					 
	     Reporting requirements				 
	     Accounting standards				 

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GAO-01-890R
     
GAO- 01- 890R American Gold Star Mothers, Incorporated

United States General Accounting Office Washington, DC 20548

June 25, 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 American Gold Star Mothers, Incorporated, for Fiscal
Years 2000 and 1999

Dear Mr. Chairman: As requested, we reviewed the audit report covering the
financial statements of the American Gold Star Mothers, Incorporated, a
federally chartered corporation, for the fiscal years ended June 30, 2000
and 1999. The corporation was established in 1928 for the purpose of
perpetuating the ideals of Americanism for which members? relatives fought
and died.

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- 890R American Gold Star Mothers, Incorporated 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 (194038)
*** End of document. ***