Federally Chartered Corporation: Financial Statement Audit Report
for the American GI Forum of the United States for Fiscal Year	 
2005 (05-APR-07, GAO-07-663R).					 
                                                                 
GAO reviewed the audit reports covering the financial statements 
of the American GI Forum of the United States for fiscal year	 
2005. GAO found that the American GI Forum of the United States  
did not obtain an audit of its financial statements for fiscal	 
year 2005 by an independent public accountant, and therefore did 
not comply with the statutory requirement for such an audit.	 
Instead, corporation officials informed us that they had the	 
statements reviewed. Further, they informed us they plan to	 
obtain a financial audit of the corporation's financial 	 
statements in the future.					 
-------------------------Indexing Terms------------------------- 
REPORTNUM:   GAO-07-663R					        
    ACCNO:   A67864						        
  TITLE:     Federally Chartered Corporation: Financial Statement     
Audit Report for the American GI Forum of the United States for  
Fiscal Year 2005						 
     DATE:   04/05/2007 
  SUBJECT:   Accounting standards				 
	     Audit reports					 
	     Federal corporations				 
	     Financial statement audits 			 
	     Reporting requirements				 
	     Infectious diseases				 

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GAO-07-663R

   

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           April 5, 2007

The Honorable F. James Sensenbrenner, Jr.
House of Representatives

Subject: Federally Chartered Corporation: Financial Statement Audit Report
for the American GI Forum of the United States for Fiscal Year 2005

Dear Mr. Sensenbrenner:

           As requested, we read the financial statements of the American GI
           Forum of the United States, a federally chartered corporation, for
           the fiscal year ended
           December 31, 2005. The corporation's purposes include upholding
           and defending the Constitution and the United States flag, and
           fostering and perpetuating the principles of American democracy.
           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, and performed certain analytical procedures
related to information presented in the financial statements. We
determined that the American GI Forum of the United States did not obtain
an audit of its financial statements for fiscal year 2005 by an
independent public accountant, and therefore did not comply with the above
statutory requirement for such an audit. Instead, corporation officials
informed us that they had the statements reviewed. Further, they informed
us they plan to obtain a financial audit of the corporation's financial
statements in the future.

We did not perform an audit, and we are not rendering an audit opinion.

This letter is intended solely for your use. 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 Charles Payton, Assistant Director; David Elder; and
Joshua Marcus.

Sincerely yours,

Steven J. Sebastian
Director
Financial Management and Assurance

(196143)

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