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) Page 2 GAO/AIMD-99-170R United Service Organizations, Incorporated
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)