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						 

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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)
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