Federally Chartered Corporation: Review of the Financial Statement Audit Report for the American Ex-Prisoners of War, Incorporated, for Fiscal Year 1998

Published by the Government Accountability Office on 1999-02-19.

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

United States
General Accounting Office
Washington, D.C. 20548

Accounting and Information
Management Division


    February 19,1999

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

Subject: Federallv Chartered Corooration: Review of the Financial Statement
         Audit RenOrt for the American Ex-Prisoners of War, Incornorated, for
         Fiscal Year 1998

Dear Mr. Chairman:

As requested, we reviewed the audit report covering the financial statements of the American         .
Ex-Prisoners of War, Incorporated, a federally chartered corporation, for the fLscalyear
ended August 31,1998. The corporation’s goals include fostering patriotism and loyalty;
assisting ex-prisoners of war, civilian ex-prisoners of war, and their widows and orphans; and
maintaining historical records. The corporation maintains funds which reimburse national
service officers for expenses incurred in order to assist prisoners of war and their claims,
furnish information to members on medical research and location of prisoners of war camps
around the world, and maintain the present facilities at the Andersonville National Historic

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

                                           GAO/AIMD-99-59R American Ex-Prisoners of War

necessary. We did not review the auditor’s working papers. Our review disclosed no
reportable instances of noncompliance.

The audit report included the auditor’s opinion that the financial statements of the
corporation were fairly presented on a modified cash basis of accounting. We are returnmg
the audit report you sent with your letter.

Sincerely yours,

David L. Clark
Director, Audit Oversight and Liaison



Page 2                                     GAO/AIMD-99-59R American Ex-Prisoners of War
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