oversight

Federally Chartered Corporation: Review of the Financial Statement Audit Report for the United Service Organizations, Incorporated, for 1996 and 1997

Published by the Government Accountability Office on 1999-05-10.

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

      United States

GAO   General Accounting Office
      Washington, D.C. 20548

      Accounting and Information
      Management Division

      B-281862

      May 10, 1999

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


      Subject: Federally Chartered Corporation: Review of the Financial Statement Audit Report
               for the United Service Organizations. Incorporated, for 1996 and 1997


      Dear Mr. Chairman:

      As requested, we reviewed the audit report covering the financial statements of the United
      Service Organizations, Incorporated, a federally chartered corporation, for the years ended
      December 31, 1996 and 1997. The corporation serves the needs of military lifestyle by
      fostering a viable partnership between the military and civilian communities. To carry out
      this mission, the corporation operates centers at major military installations around the
      world, produces free-of-charge celebrity entertainment tours for military personnel stationed
      abroad, and manages doner restricted scholarship and crisis funds for the benefit of military
      personnel and their families.

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

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

      ·   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-99-170R United Service Organizations, Incorporated
B-281862



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




(911933)




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                              GAO/AIMD-99-170R United Service Organizations, Incorporated