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Audit Report for the American National Red Cross for the Year Ended June 30, 1976

Published by the Government Accountability Office on 1977-12-23.

Below is a raw (and likely hideous) rendition of the original report. (PDF)

                           DOCUMBET RBSOId
 04566 - [B3634881]
[Audit Report for the American National Red Cross for
Ended June 30, 1976]. B-55712. December 23, 1977. 1 pp.the Tear
Report to Rep. Peter P. Rodino, Jr., Chairman, House Committee
on the Judiciary; by Robert F. Keller, Deputy Comptroller
General.
Issue irea: Accounting and Financial Reporting (2800).
Contact: financial and General management Studies Die.
Budget Function: liscellaneous: Financial management and
    Information Systems (1002),
Organization Concerned: American lational Red Cross; Department
    of the Army: Army Audit Agency.
Congressional Relevaace: House Committee on the Judiciary.
Authority: P.L. 88-504. 36 U.S.C. 1.
          A review of the audit report prepared by the U.S. Army
Audit Agency for the American National Red Cross for  the year
ended June 30, 1976, showed that the audit and financial
reporting requirements of the act of January 5, 1905,
the corporation, had been met. Findings/Conclusions: chartering
report included a statement of the scope of the audit The audit
audit aqency*s opinion that, except for the effects of and the
unrestricted donations being included as endowment fundscertain
certain campaign                                          and
                 contributions for support.
being reported as income in the fiscal year ofin the following year
                                                  which they were
recei7ed or receivable, the Combined Statement of Support,
Revenue, Expenses, and Transfers and the Combined Statement of
Functional Bxpenses by Object Classification presented
the results of operations of the Red Cross for the year fairly
                                                         ended
June 30, 1976, in conformity with generally accepted accounting
principles. These principles were applied on a bases consistent
with the preceding year except for an accounting
which the audit agency concurs. The audit report change
                                                 was
                                                         with
the Army Audit Agency's examination and the audit reports on
                                                      based
certified public accountants covering the accounts of the of
national organization and 91% of the total support, revenue,
expenses reported by chapters and blood centers. (SC)         and
                6   .   i.   )   .   WA    eINGTON.
                                               D.C U




> B-55712                                                          DEC 2 3 1977


     The Honorable Peter W. Rodino, Jr.
     Chairman, Comi..ittee o: the Judiciary
f    House of Representatives

     Dear Mr. Chairman:

         As requested in your letter of November 4, 1977, we have reviewed
    the audit report prepared by the Department of Defense (U.S.
                                                                 Army Audit
    Agency) for the American National Red Cross for the year ended
                                                                    June 30,
    1976. Our review was directed to determining whether the report
                                                                      complies
    with the financial reporting requirements of the act of January
                                                                     5, 1905
    (36 U.S.C. 1i, which chartered the corporation, and differ from the
    requirements of Public Law 88-.504.

          The audit report included a statement of the scope of audit and
     -teaudit agency's opinion, which was based upon its examination
                                                                        and
     the audit reports of certified public accountants covering the
                                                                     accounts
    or the national organization and 91 percent of the total
                                                              support,
    revenue and expenses reported by chapters and blood centers.
                                                                    The audit
    agency's opinion states that except for the effects nf (1) certain
    unrestricted donations being' included as endowment funds and
                                                                   (2) certain
    campaign contributions for support of the following year being
                                                                     reported
    as income in the fiscal year in which it was received or receivable,
    the Combined Statemert of Support, Revenue, Expenses, and Transfers
                                                                           and
    the Combined Statement of Functional Expenses by Object Classification
    present fairly the results of operations of the American National
                                                                         Red
    Cross for the year ended June 30, 1976, in conformity with
                                                                generally
    accepted accounting principles applied on a basis consistent
                                                                  with the
    preceding year, except for an accounting change with which the
                                                                     audit
    agency concurs. In our opinion, the audit and financial reporting
    requirements of the act of January 5, 1905, chartering the corporation,
    have been met.

         We are returning the audit report sent with your letter of
    November 4, 1977.

                                            Sincerely yours,




                                     Deputy Comptroller General
                                            of the United States
    Enclosure