Federally Chartered Corporation: Rview of the Financial Statement
Audit Report for the Civil Air Patrol for Fiscal Year 2000	 
(05-JUN-03, GAO-03-859R).					 
                                                                 
GAO reviewed the audit report covering the financial statements  
of the Civil Air Patrol for fiscal year 2000. GAO did not review 
the auditors' working papers and is not rendering an audit	 
opinion. The audit report included the auditors' opinion that	 
with one exception, the financial statements of the corporation  
were presented fairly in accordance with generally accepted	 
accounting principles. The exception related to six wings as a	 
region as well as unites below using level not being audited and 
not being included in these financial statements.		 
-------------------------Indexing Terms------------------------- 
REPORTNUM:   GAO-03-859R					        
    ACCNO:   A07099						        
  TITLE:     Federally Chartered Corporation: Rview of the Financial  
Statement Audit Report for the Civil Air Patrol for Fiscal Year  
2000								 
     DATE:   06/05/2003 
  SUBJECT:   Audit reports					 
	     Accounting standards				 
	     Federal corporations				 
	     Financial statement audits 			 
	     Reporting requirements				 

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GAO-03-859R

GAO- 03- 859R Civil Air Patrol

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 Civil
Air Patrol for Fiscal Year 2000 Dear Mr. Chairman:

As requested, we reviewed the audit report covering the financial
statements of the Civil Air Patrol, a federally chartered corporation, for
the fiscal year ended September 30, 2000. The purpose of the corporation
is to encourage and foster civil aviation in local communities and to
provide adequate facilities to assist in meeting local and national
emergencies.

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 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.

GAO- 03- 859R Civil Air Patrol Page 2 The audit report for fiscal year
2000 included the auditors* opinion that with one

exception, the financial statements of the corporation were presented
fairly in accordance with U. S. generally accepted accounting principles.
The exception related to six wings and a region as well as units below
wing level not being audited and not being included in these financial
statements. The exception is discussed in detail in the notes to the
financial statements and in the auditors* report.

We are returning the audit report you sent with your letter. Sincerely
yours,

Jeanette M. Franzel Director Financial Management and Assurance

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