Federally Chartered Corporation: Review of the Financial Statement Audit Reports for the Boy Scouts of America for 2002

Published by the Government Accountability Office on 2003-10-10.

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

United States General Accounting Office
Washington, DC 20548

          October 10, 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 Boy Scouts of America for 2002

          Dear Mr. Chairman:

          As requested, we reviewed the audit report covering the financial statements of the
          Boy Scouts of America, a federally chartered corporation, for the year ended
          December 31, 2002. The corporation’s purpose is to promote the ability of boys to do
          things for themselves and others; to train them in scoutcraft; and to teach them
          patriotism, courage, self-reliance, and kindred values.

          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-04-64R Boy Scouts of America
The audit report included the auditors’ opinion that the financial statements of the 

corporation were presented fairly in accordance with U.S. generally accepted 

accounting principles. We are returning the audit report you sent with your letter. 

Sincerely yours, 

Jeanette M. Franzel 


Financial Management and Assurance 

w/o Enclosure 


Page 2                                             GAO-04-64R Boy Scouts of America
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