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. ***