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

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