Federally Chartered Corporation: Review of the Financial	 
Statement Audit Report for the American Gold Star Mothers,	 
Incorporated, for Fiscal Years 2002 and 2001 (05-JUN-03,	 
GAO-03-854R).							 
                                                                 
GAO reviewed the audit report covering the financial statements  
of the American Gold Star Mothers, Incorporated, for the fiscal  
years 2002 and 2001. GAO found no reportable instances of	 
noncompliance, and the audit report included the auditors'	 
opinions that the financial statements were presented fairly in  
accordance with generally accepted accounting principles.	 
-------------------------Indexing Terms------------------------- 
REPORTNUM:   GAO-03-854R					        
    ACCNO:   A07094						        
  TITLE:     Federally Chartered Corporation: Review of the Financial 
Statement Audit Report for the American Gold Star Mothers,	 
Incorporated, for Fiscal Years 2002 and 2001			 
     DATE:   06/05/2003 
  SUBJECT:   Accounting standards				 
	     Audit reports					 
	     Federal corporations				 
	     Financial statement audits 			 
	     Reporting requirements				 

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GAO-03-854R

GAO- 03- 854R American Gold Star Mothers, Incorporated

United States General Accounting Office Washington, DC 20548

June 5, 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

Report for the American Gold Star Mothers, Incorporated, for Fiscal Years
2002 and 2001 Dear Mr. Chairman:

As requested, we reviewed the audit report covering the financial
statements of the American Gold Star Mothers, Incorporated, a federally
chartered corporation, for the fiscal years ended June 30, 2002 and 2001.
The corporation was established in 1928 for the purpose of perpetuating
the ideals of Americanism for which members* relatives fought and died.

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, and

obtain an annual financial audit by an independent public accountant. 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- 03- 854R American Gold Star Mothers, Incorporated Page 2 The audit
report included the auditors* opinion that the financial statements of the

corporation were presented fairly on a modified cash basis of accounting.
We are returning the audit report you sent with your letter.

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

Enclosure (194223)

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