Federally Chartered Corporation: Review of the Financial	 
Statement Audit Report for the National Conference of State	 
Societies, Washington, District of Columbia, for Fiscal Years	 
1999 and 1998 (26-JUN-01, GAO-01-898R). 			 
								 
GAO reviewed the audit report covering the financial statements  
of the National Conference of State Societies, Washington,	 
District of Columbia, for the fiscal years ended May 31, 1999 and
1998. GAO found no reportable instances of noncompliance, and the
report included the auditor's opinions that the financial	 
statements of the corporation were presented fairly on a cash	 
basis of accounting.						 
-------------------------Indexing Terms------------------------- 
REPORTNUM:   GAO-01-898R					        
    ACCNO:   A01289						        
    TITLE:   Federally Chartered Corporation: Review of the Financial 
             Statement Audit Report for the National Conference of State      
             Societies, Washington, District of Columbia, for Fiscal Years    
             1999 and 1998                                                    
     DATE:   06/26/2001 
  SUBJECT:   Audit reports					 
	     Reporting requirements				 
	     Accounting standards				 
	     Federal corporations				 
	     Financial statement audits 			 

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GAO-01-898R
     
GAO- 01- 898R National Conference of State Societies

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 National Conference of State Societies, Washington,
District of Columbia, for Fiscal Years 1999 and 1998

Dear Mr. Chairman: As requested, we reviewed the audit report covering the
financial statements of the National Conference of State Societies,
Washington, District of Columbia, a federally chartered corporation, for the
fiscal years ended May 31, 1999 and 1998. The corporation?s purpose is to
promote friendly and cooperative relations between the various state and
territorial societies in the District of Columbia, and to foster,
participate in, and encourage educational, cultural, charitable, civic, and
patriotic programs and activities in the District of Columbia.

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- 898R National Conference of State Societies Page 2 The audit report
included the auditors? opinion that the financial statements of the

corporation were presented fairly on a cash basis of accounting. The notes
to the financial statements indicate that the corporation would have shown
an operating deficit at May 31, 1999 and 1998 under the accrual 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 (194047)
*** End of document. ***