Federally Chartered Corporation: Review of the Financial
Statement Audit Report for the General Federation of Women's
Clubs for Fiscal Years 2000 and 1999 (25-JUN-01, GAO-01-895R).
This report reviews the audit report covering the financial
statements of the General Federation of Women's Clubs for the
fiscal years ended June 30, 2000 and 1999 to determine whether
the audit report complied with the financial reporting
requirements of the law. The audit report included the auditors'
opinion that the financial statements of the corporation were
presented fairly in accordance with generally accepted accounting
principles, and GAO found no reportable instances of
noncompliance with the requirements of the law.
-------------------------Indexing Terms-------------------------
REPORTNUM: GAO-01-895R
ACCNO: A01286
TITLE: Federally Chartered Corporation: Review of the Financial
Statement Audit Report for the General Federation of Women's
Clubs for Fiscal Years 2000 and 1999
DATE: 06/25/2001
SUBJECT: Accounting standards
Audit reports
Federal corporations
Financial statement audits
Reporting requirements
Women
******************************************************************
** This file contains an ASCII representation of the text of a **
** GAO Testimony. **
** **
** No attempt has been made to display graphic images, although **
** figure captions are reproduced. Tables are included, but **
** may not resemble those in the printed version. **
** **
** Please see the PDF (Portable Document Format) file, when **
** available, for a complete electronic file of the printed **
** document's contents. **
** **
******************************************************************
GAO-01-895R
GAO- 01- 895R General Federation of Women?s Clubs
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 General Federation of Women?s Clubs for Fiscal Years
2000 and 1999
Dear Mr. Chairman: As requested, we reviewed the audit report covering the
financial statements of the General Federation of Women?s Clubs, a federally
chartered corporation, for the fiscal years ended June 30, 2000 and 1999.
The corporation?s objective is to communicate with and unite the various
women?s clubs and like organizations throughout the world for their mutual
benefit and to promote their common educational, industrial, philanthropic,
literary, artistic, and scientific interests.
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- 895R General Federation of Women?s Clubs Page 2 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 (194043)
*** End of document. ***