Federally Chartered Corporation: Financial Statement Audit Report
for the Big Brothers-Big Sisters of America for Fiscal Year 2003
(14-MAR-06, GAO-06-508R).
GAO reviewed the audit reports covering the financial statements
of the Big Brothers-Big Sisters of America for the Fiscal Year
ended March 31, 2003. GAO found no reportable instances of
noncompliance. 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.
-------------------------Indexing Terms-------------------------
REPORTNUM: GAO-06-508R
ACCNO: A49039
TITLE: Federally Chartered Corporation: Financial Statement
Audit Report for the Big Brothers-Big Sisters of America for
Fiscal Year 2003
DATE: 03/14/2006
SUBJECT: Accounting standards
Audit reports
Federal corporations
Financial statement audits
Reporting requirements
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GAO-06-508R
* PDF6-Ordering Information.pdf
* Order by Mail or Phone
March 14, 2006
The Honorable F. James Sensenbrenner, Jr.
Chairman
Committee on the Judiciary
House of Representatives
Subject: Federally Chartered Corporation: Financial Statement Audit Report
for the Big Brothers-Big Sisters of America for Fiscal Year 2003
Dear Mr. Chairman:
As requested, we read the audit report covering the financial
statements of the Big Brothers-Big Sisters of America, a federally
chartered corporation, for the fiscal year ended March 31, 2003.
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.
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.
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 also held limited discussions with the corporation's auditor
regarding potential enhancements that could be made to the corporation's
financial reporting. 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 audit documentation,
and we are not rendering an audit opinion.
The audit report included the auditor's opinion that the financial
statements of the corporation were presented fairly in accordance with
U.S. generally accepted accounting principles. We are returning the audit
report you sent with your letter.
- - - - -
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on the Judiciary. This letter will be available at no charge on GAO's Web
site at http://www.gao.gov .
If you have any questions or would like to discuss this letter, please
contact me at (202) 512-3406 or by e-mail at [email protected] . Contact
points for our Offices of Congressional Relations and Public Affairs may
be found on the last page of this letter. Key contributors to this letter
were David Elder, Charles Payton, and Lien To.
Sincerely yours,
Steven J. Sebastian
Director Financial Management and Assurance
(196084)
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