Federally Chartered Corporation: Review of the Financial	 
Statement Audit Report for the Pearl Harbor Survivors Association
for Fiscal Year 2000 (30-NOV-01, GAO-02-263R).			 
								 
GAO reviewed the audit report covering the financial statements  
of the Pearl Harbor Survivors Association for fiscal year 2000.  
GAO found no reportable instances of noncompliance. The audit	 
report included the auditor's opinion that, without exception,	 
the financial statements of the corporation were presented fairly
on a modified cash basis of accounting. 			 
-------------------------Indexing Terms------------------------- 
REPORTNUM:   GAO-02-263R					        
    ACCNO:   A02524						        
  TITLE:     Federally Chartered Corporation: Review of the Financial 
Statement Audit Report for the Pearl Harbor Survivors Association
for Fiscal Year 2000						 
     DATE:   11/30/2001 
  SUBJECT:   Accounting standards				 
	     Audit reports					 
	     Federal corporations				 
	     Financial statement audits 			 
	     Reporting requirements				 

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GAO-02-263R
     
GAO- 02- 263R Pearl Harbor Survivors Association

United States General Accounting Office Washington, DC 20548

November 30, 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 Pearl Harbor Survivors Association for Fiscal Year 2000

Dear Mr. Chairman: As requested, we reviewed the audit report covering the
financial statements of the Pearl Harbor Survivors Association, a federally
chartered corporation, for the fiscal year ended September 30, 2000. The
corporation?s purpose is to collate, preserve, and encourage the study of
historical episodes, chronicles, mementos, and events pertaining to ?The Day
of Infamy, 7 December 1941?, and in particular those memories and records of
patriotic service performed by the heroic Pearl Harbor survivors and
nonsurvivors.

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- 263R Pearl Harbor Survivors Association Page 2 The audit report
included the auditors? opinion that, with one exception, the financial

statements of the corporation were presented fairly on a modified cash basis
of accounting. The exception related to the fact the auditors were not
present to observe the physical inventory count at September 30, 2000.

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 (194079)
*** End of document. ***