Federally Chartered Corporation: Review of the Financial
Statement Audit Reports for the Big Brothers-Big Sisters of
America for Fiscal Years 2002 and 2001 (05-JUN-03, GAO-03-857R).
We reviewed the audit reports covering the financial statements
of the Big Brothers-Big Sisters of America, for fiscal years 2002
and 2001. 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-03-857R
ACCNO: A07097
TITLE: Federally Chartered Corporation: Review of the Financial
Statement Audit Reports for the Big Brothers-Big Sisters of
America for Fiscal Years 2002 and 2001
DATE: 06/05/2003
SUBJECT: Financial statement audits
Accounting standards
Audit reports
Federal corporations
Reporting requirements
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GAO-03-857R
GAO- 03- 857R Big Brothers- Big Sisters of America
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
Reports for the Big Brothers- Big Sisters of America for Fiscal Years 2002
and 2001 Dear Mr. Chairman:
As requested, we reviewed the audit reports covering the financial
statements of the Big Brothers- Big Sisters of America, a federally
chartered corporation, for the fiscal years ended March 31, 2002 and 2001.
The corporation*s purpose is to make a positive difference in the lives of
children and youth, primarily through a professionally supported one- to-
one relationship with a caring adult, and to assist them in achieving
their highest potential.
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 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- 857R Big Brothers- Big Sisters of America 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 Director Financial Management and
Assurance
Enclosures (194226)
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