Federally Chartered Corporation: Financial Statement Audit Report
for the Military Order of the World Wars for Fiscal Year 2003	 
(10-JUN-05, GAO-05-511R).					 
                                                                 
GAO reviewed the audit reports covering the financial statements 
of the Military Order of the World Wars for fiscal year 2003. GAO
found no reportable instances of noncompliance. The audit reports
included the auditors' opinion that the financial statements of  
the corporation were presented fairly on a modified cash basis of
accounting.							 
-------------------------Indexing Terms------------------------- 
REPORTNUM:   GAO-05-511R					        
    ACCNO:   A26328						        
  TITLE:     Federally Chartered Corporation: Financial Statement     
Audit Report for the Military Order of the World Wars for Fiscal 
Year 2003							 
     DATE:   06/10/2005 
  SUBJECT:   Financial statement audits 			 
	     Audit reports					 
	     Reporting requirements				 
	     Accounting standards				 
	     Federal corporations				 

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GAO-05-511R

United States Government Accountability Office Washington, DC 20548

June 10, 2005

The Honorable F. James Sensenbrenner, Jr.
Chairman
Committee on the Judiciary
House of Representatives

Subject: 	Federally Chartered Corporation: Financial Statement Audit
Report for the Military Order of the World Wars for Fiscal Year 2003

Dear Mr. Chairman:

As requested, we read the audit report covering the financial statements
of the Military Order of the World Wars, a federally chartered
corporation, for the fiscal year ended June 30, 2003. The corporation's
purpose is to promote military service associations; patriotic education;
and military, naval, and air science.

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,

o  obtain an annual financial audit by an independent public accountant,
and

o  	submit the auditor's report and the corporation's financial statements
to the Congress.

Our objective was to advise you of any matters in the report regarding
compliance with the financial reporting requirements of the law. In
carrying out our work, we read the corporation's financial statements and
the accompanying notes, performed certain analytical procedures related to
information presented in the financial statements, and read the auditor's
report. We did not identify any instance of noncompliance with the above
financial reporting requirements of the law.

We did not perform an audit or review the auditor's working papers, and we
are not rendering an audit opinion.

                  GAO-05-511R Military Order of the World Wars

The audit report included the auditor's opinion that the financial
statements of the
corporation were presented fairly on a modified cash basis of accounting.
We are
returning the audit report you sent with your letter.

This letter is intended solely for your use and the use of the Committee
on the
Judiciary.

Sincerely yours,

Steven J. Sebastian
Director
Financial Management and Assurance

w/o Enclosure

(196051)

              Page 2 GAO-05-511R Military Order of the World Wars

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