Federally Chartered Corporation: Review of the Financial	 
Statement Audit Reports for The Foundation of the Federal Bar	 
Association for Fiscal Years 2000 and 1999 (17-MAY-02,		 
GAO-02-756R).							 
                                                                 
GAO reviewed the audit reports covering the financial statements 
of the Foundation of the Federal Bar Association 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 generally accepted accounting 	 
principles.							 
-------------------------Indexing Terms------------------------- 
REPORTNUM:   GAO-02-756R					        
    ACCNO:   A03388						        
  TITLE:     Federally Chartered Corporation: Review of the Financial 
Statement Audit Reports for The Foundation of the Federal Bar	 
Association for Fiscal Years 2000 and 1999			 
     DATE:   05/17/2002 
  SUBJECT:   Audit reports					 
	     Federal corporations				 
	     Financial statement audits 			 
	     Auditing standards 				 
	     Reporting requirements				 

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GAO-02-756R
     
GAO- 02- 756R The Foundation of the Federal Bar Association

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 Reports for The
Foundation of the Federal Bar Association for Fiscal Years

2000 and 1999 Dear Mr. Chairman: As requested, we reviewed the audit reports
covering the financial statements of The Foundation of the Federal Bar
Association, a federally chartered corporation, for the fiscal years ended
September 30, 2000 and 1999. The Foundation?s purposes are to promote the
study of law through various programs and to provide for the acquisition,
presentation, and exhibition of rare objects of historical interest relating
to the law, the courts, and the legal profession.

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
reports 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? reports. 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- 756R The Foundation of the Federal Bar Association Page 2 The audit
reports included the auditors? opinions that the financial statements of the

corporation were presented fairly in accordance with generally accepted
accounting principles. We are returning the audit reports you sent with your
letter.

Sincerely yours, Jeanette M. Franzel Acting Director Financial Management
and Assurance

w/ o Enclosures (194099)
*** End of document. ***