oversight

Federally Chartered Corporation: Review of the Financial Statement Audit Reports for the Marine Corps League for Fiscal Years 2002 and 2001

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 Marine Corps League for Fiscal Years 2002 and 2001

          Dear Mr. Chairman:

          As requested, we reviewed the audit report covering the financial statements of the
          Marine Corps League, a federally chartered corporation, for the fiscal years ended
          June 30, 2002 and 2001. The corporation’s purpose is to promote interest and
          fellowship among all Marines and the survivors of deceased Marines.

          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-04-66R Marine Corps League
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 





(194327) 



Page 2                                             GAO-04-66R Marine Corps League
                           The General Accounting Office, the audit, evaluation and investigative arm of
GAO’s Mission 	            Congress, exists to support Congress in meeting its constitutional
                           responsibilities and to help improve the performance and accountability of the
                           federal government for the American people. GAO examines the use of public
                           funds; evaluates federal programs and policies; and provides analyses,
                           recommendations, and other assistance to help Congress make informed
                           oversight, policy, and funding decisions. GAO’s commitment to good
                           government is reflected in its core values of accountability, integrity, and
                           reliability.


                           The fastest and easiest way to obtain copies of GAO documents at no cost is
Obtaining Copies of        through the Internet. GAO’s Web site (www.gao.gov) contains abstracts and full-
GAO Reports and            text files of current reports and testimony and an expanding archive of older
                           products. The Web site features a search engine to help you locate documents
Testimony                  using key words and phrases. You can print these documents in their entirety,
                           including charts and other graphics.

                           Each day, GAO issues a list of newly released reports, testimony, and
                           correspondence. GAO posts this list, known as “Today’s Reports,” on its Web
                           site daily. The list contains links to the full-text document files. To have GAO e-
                           mail this list to you every afternoon, go to www.gao.gov and select “Subscribe to
                           e-mail alerts” under the “Order GAO Products” heading.


Order by Mail or Phone 	   The first copy of each printed report is free. Additional copies are $2 each. A
                           check or money order should be made out to the Superintendent of Documents.
                           GAO also accepts VISA and Mastercard. Orders for 100 or more copies mailed to
                           a single address are discounted 25 percent. Orders should be sent to:

                           U.S. General Accounting Office
                           441 G Street NW, Room LM
                           Washington, D.C. 20548

                           To order by Phone: 	 Voice:      (202) 512-6000
                                                TDD:        (202) 512-2537
                                                Fax:        (202) 512-6061


                           Contact:
To Report Fraud,	
                           Web site: www.gao.gov/fraudnet/fraudnet.htm
Waste, and Abuse in        E-mail: fraudnet@gao.gov
Federal Programs           Automated answering system: (800) 424-5454 or (202) 512-7470


                           Jeff Nelligan, Managing Director, NelliganJ@gao.gov (202) 512-4800
Public Affairs 	           U.S. General Accounting Office, 441 G Street NW, Room 7149
                           Washington, D.C. 20548
This is a work of the U.S. government and is not subject to copyright protection in the
United States. It may be reproduced and distributed in its entirety without further
permission from GAO. However, because this work may contain copyrighted images or
other material, permission from the copyright holder may be necessary if you wish to
reproduce this material separately.