Federally Chartered Corporation: Review of the Financial	 
Statement Audit Reports for the General Federation of Women's	 
Clubs for Fiscal Years 2000-2002 (07-AUG-03, GAO-03-1079R).	 
                                                                 
We reviewed the audit reports covering the financial statements  
of the General Federation of Women's Clubs, for fiscal years	 
2002, 2001 and 2000. GAO's review disclosed no reportable	 
instances of noncompliance with the financial reporting 	 
requirements of the law. 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-03-1079R					        
    ACCNO:   A07922						        
  TITLE:     Federally Chartered Corporation: Review of the Financial 
Statement Audit Reports for the General Federation of Women's	 
Clubs for Fiscal Years 2000-2002				 
     DATE:   08/07/2003 
  SUBJECT:   Accounting standards				 
	     Audit reports					 
	     Federal corporations				 
	     Financial statements				 
	     Reporting requirements				 

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GAO-03-1079R

GAO- 03- 1079R General Federation of Women*s Clubs

United States General Accounting Office Washington, DC 20548

August 7, 2003 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 General Federation of Women*s Clubs for
Fiscal Years 2000- 2002 Dear Mr. Chairman:

As requested, we reviewed the audit reports covering the financial
statements of the General Federation of Women*s Clubs, a federally
chartered corporation, for the fiscal years ended June 30, 2002, 2001, and
2000. The corporation*s objective is to communicate with and unite the
various women*s clubs and like organizations throughout the world for
their mutual benefit and to promote their common

educational, industrial, philanthropic, literary, artistic, and scientific
interests. Federally chartered corporations are required under 36 U. S. C.
S:10101 to

present the corporation*s assets and liabilities and reasonable detail on
the corporation*s income and expenses in annual financial statements, and

obtain an annual financial audit by an independent public accountant. 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- 03- 1079R General Federation of Women*s Clubs Page 2 The audit
reports included the auditors* opinions that the financial statements of
the

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

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

w/ o Enclosures (194265)
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