Federally Chartered Corporation: Review of the Financial
Statement Audit Report for the Former Members of Congress for
2000 and 1999 (17-MAY-02, GAO-02-755R).
GAO reviewed the audit report covering the financial statements
of the Former Members of Congress for fiscal years 2000 and 1999.
GAO found no reportable instances of noncompliance. The audit
reports included the auditors' opinions that the financial
statements of the corporation were presented fairly in accordance
with general accounting principles.
-------------------------Indexing Terms-------------------------
REPORTNUM: GAO-02-755R
ACCNO: A03389
TITLE: Federally Chartered Corporation: Review of the Financial
Statement Audit Report for the Former Members of Congress for
2000 and 1999
DATE: 05/17/2002
SUBJECT: Financial statement audits
Accounting standards
Audit reports
Reporting requirements
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GAO-02-755R
GAO- 02- 755R Former Members of Congress
United States General Accounting Office Washington, DC 20548
May 17, 2002 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 Former
Members of Congress for 2000 and 1999 Dear Mr. Chairman:
As requested, we reviewed the audit report covering the financial statements
of the Former Members of Congress, a federally chartered corporation, for
the years ended December 31, 2000 and 1999. The corporation?s purpose is to
promote the improved public understanding of the Congress as an institution
and representative democracy as a system of government, both domestically
and internationally.
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, and reviewed the auditors? report.
However, we did not review the auditors? working papers, and we are not
rendering an audit opinion. Our review disclosed no reportable instances of
noncompliance with the financial reporting
requirements of the law.
GAO- 02- 755R Former Members of Congress 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,
Jeanette M. Franzel Acting Director Financial Management and Assurance
w/ o Enclosure (194098)
*** End of document. ***