United States GAO General Accounting OfFice Washington, D.C. 20648 Accounting and Information Management Division B-281859 April 30,1999 The Honorable Henry .J.Hyde Chairman, Committee on the Judiciary House of Represent&ives Subject: F’ederaIlvChartered Cornoration: Review of the FinanciaIStatementAudit Renort for the ReserveOfficers Association of the United Statesfor J!IscalYear 1998 Dear ME Chakmanz As requested,we reviewed the audit report covering the financial statementsof the Reserve OEicersAssociation of the United States,a federally chartered corporation, for f&al year ended March 31,1998. The corporation’s purpose is to support a military policy for the United Statesthat will provide adeqhte national security. Federally chartered corporations are required under 36 U.S.C.1102-l103to l present the corporation’s assetsand liabilities and reasonablede&h on the corporation% income and expensesin annual financial statements, l obtain an annual Gnancialaudit by an independentpublic accountant,and l submit the auditor’s report and the corporation’s financial statementsto the Congress. The objective of our review was to determinewhether the audit report complied with the financiaI reporting requirements of the law. In carrying out our work, we reviewed the corporation’s financial statements and the accompanyingnotes,performed certain analytical . - ._...-. ..-. procedures related to information presentedin the financial statements,reviewed the auditois report, and made inquiries to corporation officials or the auditor as we deemed necessary. We did not review the auditor’s working papers. Cur review disclosedno . reportable instancesof noncompliance. .’ _ ::; GACVAIMM9467R .. ReserveOfficers Association of the United States ;... ‘, B-281859 The audit report includedthe auditor’sopinionthai the financiaIstatementsof the corporationwere fairly presentedin conformi@with generallyacceptedaccohnting principles. We are returningthe audit report you sentwith your letter. Sincerelyyours, +dd4 \ David L Clark Director, Audit Oversightand Liaison w/oenclosure (911930) Page2 GAO/AIMD-99-167R ReserveOfficersAssociationof the United States Orderinn Information The first copy of each GAO report and testimony is free. Additional copies are $2 each. Orders should be sent to the following address, accompanied by a check or money order made out to the Superintendent of Documents, when necessary. VISA and Mastercard credit cards are accepted, also. Orders for 100 or more copies to be mailed to a single address are discounted 25 percent. Orders by mail: U.S. General Accounting Office P.O. Box 37050 Washington, DC 20013 or visit: Room 1100 700 4th St. NW (corner of 4th and G Sts. NW) U.S. General Accounting Office Washington, DC Orders may also be placed by calIing (202) 512-6000 or by using fax number (202) 512-6061, or TDD (202) 512-2537. Each day, GAO issues a list of newly available reports and testimony. To receive facsimile copies of the daily list or any list from the past 30 days, please caR (202) 512-6000 using a touchtone phone. A recorded menu wiB provide information on how to obtain these Ii&s. For information on how to access GAO reports on the INTERNET, send an e-mail message with 9nfo” in the body to: email@example.com or visit GAO’s World Wide Web Home Page at: httpd/www.gao.gov United States General Accounting Office Washington, D.C. 20548-0001 Official Business Penalty for Private Use $300 Address Correction Requested
Federally Chartered Corporation: Review of the Financial Statement Audit Report for the Reserve Officers Association of the United States for Fiscal Year 1998
Published by the Government Accountability Office on 1999-04-30.
Below is a raw (and likely hideous) rendition of the original report. (PDF)