Federally Chartered Corporation: Review of the Financial	 
Statement Audit Report for the Polish Legion of American	 
Veterans, U.S.A., for Fiscal Year 2000 (30-NOV-01, GAO-02-264R). 
								 
GAO reviewed an audit report covering the financial statement of 
the Polish Legion of American Veterans, U.S.A. for fiscal year	 
2000. GAO's review disclosed no reportable instances of 	 
noncompliance. The audit report included the auditors' opinion	 
that the financial statements of the corporation were presented  
fairly in accordance with generally accepted accounting 	 
principles.							 
-------------------------Indexing Terms------------------------- 
REPORTNUM:   GAO-02-264R					        
    ACCNO:   A02525						        
  TITLE:     Federally Chartered Corporation: Review of the Financial 
Statement Audit Report for the Polish Legion of American	 
Veterans, U.S.A., for Fiscal Year 2000				 
     DATE:   11/30/2001 
  SUBJECT:   Federal corporations				 
	     Financial statement audits 			 
	     Reporting requirements				 
	     Accounting standards				 
	     Audit reports					 

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GAO-02-264R
     
GAO- 02- 264R Polish Legion of American Veterans, U. S. A.

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 Polish Legion of American Veterans, U. S. A., for
Fiscal Year 2000

Dear Mr. Chairman: As requested, we reviewed the audit report covering the
financial statements of the Polish Legion of American Veterans, U. S. A., a
federally chartered corporation, for the fiscal year ended August 31, 2000.
The corporation?s purpose is to function as a veterans and patriotic
organization.

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- 264R Polish Legion of American Veterans, U. S. A. Page 2 The audit
report included the auditors? opinion that the financial statements of the

corporation were presented fairly on a modified cash 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 (194080)
*** End of document. ***