Federally Chartered Corporation: Review of the Financial	 
Statement Audit Reports for the Catholic War Veterans of the	 
United States of America, Incorporated, for Fiscal Years	 
2000-2002 (21-NOV-03, GAO-04-182R).				 
                                                                 
GAO reviewed the audit reports covering the financial statements 
of the Catholic War Veterans of the United States of America,	 
Inc., for fiscal years 2002, 2001 and 2000. GAO found no	 
reportable instances of noncompliance. The audit reports included
the auditors' opinion that the financial statements of the	 
corporation were presented fairly in accordance with generally	 
accepted accounting principles. 				 
-------------------------Indexing Terms------------------------- 
REPORTNUM:   GAO-04-182R					        
    ACCNO:   A08925						        
  TITLE:     Federally Chartered Corporation: Review of the Financial 
Statement Audit Reports for the Catholic War Veterans of the	 
United States of America, Incorporated, for Fiscal Years	 
2000-2002							 
     DATE:   11/21/2003 
  SUBJECT:   Accounting standards				 
	     Audit reports					 
	     Financial statement audits 			 
	     Federal corporations				 
	     Reporting requirements				 

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GAO-04-182R

United States General Accounting Office Washington, DC 20548

November 21, 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 Catholic War Veterans of the United States
of America, Incorporated, for Fiscal Years 2000-2002

Dear Mr. Chairman:

As requested, we reviewed the audit reports covering the financial
statements of the Catholic War Veterans of the United States of America,
Incorporated, a federally chartered corporation, for the fiscal years
ended June 30, 2000, through June 30, 2002. The corporation's activities
are primarily directed at stimulating the interest of the nation in the
problems of veterans and their widows and orphans; promoting the country;
and preserving, protecting, and defending the Constitution. The
corporation sponsors a convention, publishes a newspaper, and provides
scholarships in conformity with specific program objectives.

Federally chartered corporations are required under 36 U.S.C. 10101 to

o  	present the corporation's assets and liabilities and reasonable detail
on the corporation's income and expenses in annual financial statements,
and

o  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. We also held limited discussions with the corporation's
auditors regarding potential enhancements that could be made to the
corporation's financial reporting. 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-04-182R Catholic War Veterans of the United States of America,
Incorporated

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

(194359)

Page 2 GAO-04-182R Catholic War Veterans of the United States of America,
                                  Incorporated

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