Federally Chartered Corporation: Review of the Financial	 
Statement Audit Reports for the Marine Corps League for Fiscal	 
Years 2002 and 2001 (10-OCT-03, GAO-04-66R).			 
                                                                 
GAO reviewed the audit reports covering the financial statements 
of the Marine Corps League, for fiscal years 2001 and 2002. 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-04-66R 					        
    ACCNO:   A08698						        
  TITLE:     Federally Chartered Corporation: Review of the Financial 
Statement Audit Reports for the Marine Corps League for Fiscal	 
Years 2002 and 2001						 
     DATE:   10/10/2003 
  SUBJECT:   Accounting standards				 
	     Audit reports					 
	     Federal corporations				 
	     Financial statement audits 			 
	     Reporting requirements				 

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GAO-04-66R

United States General Accounting Office Washington, DC 20548

October 10, 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 Marine Corps League for Fiscal Years 2002
and 2001

Dear Mr. Chairman:

As requested, we reviewed the audit report covering the financial
statements of the Marine Corps League, a federally chartered corporation,
for the fiscal years ended June 30, 2002 and 2001. The corporation's
purpose is to promote interest and fellowship among all Marines and the
survivors of deceased Marines.

Federally chartered corporations are required under 36 U.S.C. S: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 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-04-66R Marine Corps League

The audit report included the auditors' opinion that the financial
statements of the
corporation were presented fairly in accordance with generally accepted
accounting
principles. We are returning the audit report you sent with your letter.

Sincerely yours,

Jeanette M. Franzel
Director
Financial Management and Assurance

w/o Enclosure

(194327)

Page 2

GAO-04-66R Marine Corps League

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