United States General Accounting Office Washington, DC 20548 August 7, 2003 The Honorable F. James Sensenbrenner, Jr. Chairman, Committee on the Judiciary House of Representatives Subject: Federally Chartered Corporation: Review of the Financial Statement Audit Report for The Foundation of the Federal Bar Association for Fiscal Years 2001 and 2000 Dear Mr. Chairman: As requested, we reviewed the audit report covering the financial statements of The Foundation of the Federal Bar Association, a federally chartered corporation, for the fiscal years ended September 30, 2001 and 2000. The Foundation’s purposes are to promote the study of law through various programs and to provide for the acquisition, presentation, and exhibition of rare objects of historical interest relating to the law, the courts, and the legal profession. Federally chartered corporations are required under 36 U.S.C. §10101 to • present the corporation’s assets and liabilities and reasonable detail on the corporation’s income and expenses in annual financial statements, and • obtain an annual financial audit by an independent public accountant. 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, and reviewed the auditors’ report. However, we did not review the auditors’ working papers, and we are not rendering an audit opinion. Our review disclosed no reportable instances of noncompliance with the financial reporting requirements of the law. GAO-03-1078R The Foundation of the Federal Bar Association The audit report included the auditors’ opinion that the financial statements of the corporation were presented fairly in accordance with generally accepted accounting principles. We are returning the audit report you sent with your letter. Sincerely yours, Jeanette M. Franzel Director Financial Management and Assurance w/o Enclosure (194264) Page 2 GAO-03-1078R The Foundation of the Federal Bar Association
Federally Chartered Corporation: Review of the Financial Statement Audit Reports for The Foundation of the Federal Bar Association for Fiscal Years 2001 and 2000
Published by the Government Accountability Office on 2003-08-07.
Below is a raw (and likely hideous) rendition of the original report. (PDF)