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 Reports for the General Federation of Women’s Clubs for Fiscal Years 2000-2002 Dear Mr. Chairman: As requested, we reviewed the audit reports covering the financial statements of the General Federation of Women’s Clubs, a federally chartered corporation, for the fiscal years ended June 30, 2002, 2001, and 2000. The corporation’s objective is to communicate with and unite the various women’s clubs and like organizations throughout the world for their mutual benefit and to promote their common educational, industrial, philanthropic, literary, artistic, and scientific interests. 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 reports 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’ reports. 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-03-1079R General Federation of Women’s Clubs The audit reports included the auditors’ opinions that the financial statements of the corporation were presented fairly in accordance with U.S. generally accepted accounting principles. We are returning the audit reports you sent with your letters. Sincerely yours, Jeanette M. Franzel Director Financial Management and Assurance w/o Enclosures (194265) Page 2 GAO-03-1079R General Federation of Women’s Clubs
Federally Chartered Corporation: Review of the Financial Statement Audit Reports for the General Federation of Women's Clubs for Fiscal Years 2000-2002
Published by the Government Accountability Office on 2003-08-07.
Below is a raw (and likely hideous) rendition of the original report. (PDF)