Federally Chartered Corporation: Review of the Financial Statement Audit Report for the Legion of Valor of the United States of America, Incorporated, for Fiscal Year 1998

Published by the Government Accountability Office on 1999-03-30.

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

          United States

GAO       General Accounting Office
          Washington, D.C. 20545

      Accounting and Information
      Management Division


      March 30,1999

      The Honorable Henry J. Hyde
      Chairman, Committee on the Judiciary
      House of Representatives

      Subject: Federallv Chartered Corooration: Review of the Financial Statement
               Audit Reoort for the Legion of Valor of the United States of America,
               Incor-oorated, for Fiscal Year 1998

      Dear Mr. Chairman:

      As requested, we reviewed the audit report covering the financial statements of the Legion of
      Valor of the United States of America, Incorporated, a federally chartered corporation, for the
      fiscal year ended April 30,1998. The corporation’s purposes include remembering the deeds
      of individuals who were awarded the Congressional Medal of Honor, the Distinguished
      Service Cross, the Air Force Cross and the Navy Cross, and to advance the best interests of
      members of the armed forces of the United States of America.

      Federally chartered corporations are required under 36 U.S.C. 1102-1103to

      l      present the corporation’s assets and liabilities and reasonable detail on the corporation’s
             income and expenses in annual financial statements,

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

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

      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, reviewed the
      auditor’s report, and made inquiries to corporation officials or the auditor as we deemed
      necessary. We did not review the auditor’s working papers. Our review disclosed no
      reportable instances of noncompliance.

                                GAO/AIMD-99-128R Legion of Valor of the United States of America, Inc

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

Sincerely yours,


David L. Clark                                            \
Director, Audit Oversight and Liaison

w/o enclosure


Page 2
                      GAO/AIMD-99-128RLegion of Valor of the United States of America, Inc.
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