Federally Chartered Corporation: Review of the Financial	 
Statement Audit Report for the National Academy of Public	 
Administration for Fiscal Years 2002 and 2001 (18-SEP-03,	 
GAO-03-1126R).							 
                                                                 
GAO reviewed the audit reports covering the financial statements 
of the National Academy of Public Administration, for fiscal	 
years 2001 and 2002. GAO found no reportable instances of	 
noncompliance. The audit reports included the auditors' opinions 
that the financial statements of the corporation were presented  
fairly and in accordance with generally accepted accounting	 
principles.							 
-------------------------Indexing Terms------------------------- 
REPORTNUM:   GAO-03-1126R					        
    ACCNO:   A08523						        
  TITLE:     Federally Chartered Corporation: Review of the Financial 
Statement Audit Report for the National Academy of Public	 
Administration for Fiscal Years 2002 and 2001			 
     DATE:   09/18/2003 
  SUBJECT:   Accounting standards				 
	     Audit reports					 
	     Federal corporations				 
	     Financial statement audits 			 
	     Reporting requirements				 

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GAO-03-1126R

GAO- 03- 1126R National Academy of Public Administration

United States General Accounting Office Washington, DC 20548

September 18, 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 National Academy of Public Administration
for Fiscal Years 2002 and 2001 Dear Mr. Chairman:

As requested, we reviewed the audit reports covering the financial
statements of the National Academy of Public Administration, a federally
chartered corporation, for the fiscal years ended September 30, 2002 and
2001. The corporation*s purpose is to provide independent advice and
counsel on government organization, processes, and programs.

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- 1126R National Academy of Public Administration 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 (194340)

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