Federally Chartered Corporation: Review of the Financial	 
Statement Audit Report for the American Legion for 1999 and 1998 
(17-OCT-01, GAO-02-153R).					 
								 
GAO reviewed the audit reports covering the financial statements 
of the American Legion for fiscal years 1998 and 1999. GAO found 
no reportable instances of noncompliance. The audit report	 
included the auditor's opinion that the financial statements of  
the corporation were presented fairly in accordance with	 
generally accepted accounting principles.			 
-------------------------Indexing Terms------------------------- 
REPORTNUM:   GAO-02-153R					        
    ACCNO:   A02337						        
    TITLE:   Federally Chartered Corporation: Review of the Financial 
             Statement Audit Report for the American Legion for 1999 and 1998 
     DATE:   10/17/2001 
  SUBJECT:   Accounting standards				 
	     Audit reports					 
	     Federal corporations				 
	     Financial statement audits 			 
	     Reporting requirements				 

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GAO-02-153R
     
GAO- 02- 153R The American Legion

United States General Accounting Office Washington, DC 20548

October 17, 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 Legion for 1999 and 1998

Dear Mr. Chairman: As requested, we reviewed the audit report covering the
financial statements of The American Legion, a federally chartered
corporation, for the years ended December 31, 1999 and 1998. The
corporation?s purpose is to preserve democracy, to foster the ties and
comradeship of military service, and to devote the efforts of its members to
mutual helpfulness and service to the United States.

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- 02- 153R The American Legion 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 (194072)
*** End of document. ***