Federally Chartered Corporation: Review of the Financial	 
Statement Audit Report for the Marine Corps League for Fiscal	 
Years 2000 and 1999 (26-JUN-01, GAO-01-896R).			 
								 
This report reviews the audit report covering the financial	 
statements of the Marine Corps League for the fiscal years ended 
June 30, 2000 and 1999. GAO's review disclosed no reportable	 
instances of noncompliance. The audit report 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-01-896R					        
    ACCNO:   A01287						        
  TITLE:     Federally Chartered Corporation: Review of the Financial 
             Statement Audit Report for the Marine Corps League for Fiscal    
             Years 2000 and 1999                                              
     DATE:   06/26/2001 
  SUBJECT:   Financial statement audits 			 
	     Accounting standards				 
	     Reporting requirements				 
	     Federal corporations				 

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GAO-01-896R
     
GAO- 01- 896R Marine Corps League

United States General Accounting Office Washington, DC 20548

June 26, 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 Marine Corps League for Fiscal Years 2000 and 1999

Dear Mr. Chairman: As requested, we reviewed the audit report covering the
financial statements of the Marine Corps League, a federally chartered
corporation, for the fiscal years ended June 30, 2000 and 1999. The
corporation?s purpose is to promote interest and fellowship among all
Marines and the survivors of deceased Marines.

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- 896R Marine Corps League 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 (194045)
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