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The Form 5500 is the primary source of information for both the federal government and the private sector regarding the operation, funding, assets, and investments of private pension and other employee benefit plans. Currently, the Department of Labor (Labor) requires about 3 years to provide certain usable Form 5500 information to the public, leading to complaints that the information is not timely. We have prepared this report under the Comptroller General's authority, and it is intended to assist Congress in improving the timeliness and content of Form 5500 information. This report is addressed to the congressional committees of jurisdiction. It examines: (1) the information reported on the form and how it is used, (2) factors that affect the timeliness of Form 5500 information, and (3) issues affecting the content of the form. Detailed information on private pension plans is reported on the Form 5500, and Labor, the Internal Revenue Service (IRS), and the Pension Benefit Guaranty Corporation (PBGC) use the information for compliance, research, and public disclosure purposes. Information collected on the form includes basic plan identifying information as well as detailed information including assets and liabilities, insurance, and financial transactions. The principal users of Form 5500 Reports--Labor, IRS, and PBGC--use the reports primarily as a compliance tool to identify actual and potential violations of the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code. Other federal agencies and policy researchers also use Form 5500 information. Statutory reporting requirements, processing issues, and current Labor practices affect the timeliness of the release of Form 5500 information, resulting in a 3 year lag, in some cases, in releasing certain usable computerized Form 5500 information to the non-principal federal agencies and others. First, under the current statutory reporting requirements, filers can have up to 285 days after the end of the plan year to file their Form 5500. Second, 98 percent of filings are in a paper format. These take more than three times as long as electronic filings to process and have twice as many errors. Third, the release of the Form 5500 information in the research file--the Form 5500's most practical form--is further delayed because Labor waits until all filings for that plan year are processed, which can take up to 2 years. Despite the efforts of Labor, IRS, and PBGC to improve its content, the Form 5500 lacks key information. These agencies have taken certain steps to improve the content of the Form 5500, such as reviewing the Form 5500 annually to ensure that the form is collecting all the information required by law. However, the form still lacks key information that could better assist Labor, IRS, and PBGC in identifying and tracking all plans over time and monitoring multiemployer plans. Federal and private sector researchers also told us the form could collect better plan financial information, such as 40l(k) plan fees. In addition, federal agency officials told us certain information could be reported earlier than the current filing deadline, such as information on a plan's funding status, as well as its assets and liabilities. [ABSTRACT FROM AUTHOR]

The U.S. government's framework for preventing, detecting, and prosecuting money laundering has been expanding through additional pieces of legislation since its inception in 1970 with the Bank Secrecy Act (BSA). The purpose of the BSA is to prevent financial institutions from being used as intermediaries for the transfer or deposit of money derived from criminal activity and to provide a paper trail for law enforcement agencies in their investigations of possible money laundering. The most recent changes arose in October 2001 with the passage of the USA PATRIOT Act, which, among other things, extends antimoney laundering (AML) requirements to other financial service providers previously not covered under the BSA. GAO was asked to testify on its previous work and the ongoing work it is doing for the Senate Committee on Banking, Housing, and Urban Affairs on the depository institution regulators' BSA examination and enforcement process. In recent years, GAO has issued a number of reports dealing with regulatory oversight of anti-money laundering activities of financial institutions. In 1998, GAO issued a report regarding Treasury's Financial Crimes Enforcement Network's (FinCEN) role in administering the BSA, which updated information on civil penalties for BSA violations. One focus was the Secretary of the Treasury's 1994 mandate to delegate the authority to assess civil money penalties for BSA violations to federal banking regulatory agencies. GAO noted that this delegation had not been made and said that FinCEN was concerned that bank regulators may be less inclined to assess BSA penalties and may prefer to use their non-BSA authorities under their own statutes. Also in 1998, GAO reported on the activities of Raul Salinas, the brother of the former President of Mexico. Mr. Salinas was allegedly involved in laundering money from Mexico, through Citibank, to accounts in Citibank affiliates in Switzerland and the United Kingdom. GAO determined that Mr. Salinas was able to transfer $90 - $100 million between 1992 and 1994 by using a private banking relationship structured through Citibank New York in 1992 and effectively disguise the funds' source and destination, thus breaking the funds' paper trail. In 2001, GAO issued a report on changes in BSA examination coverage for certain securities broker-dealers. At the time, there was no requirement that all broker-dealers file Suspicious Activity Reports (SARs); however, brokerdealer subsidiaries of depository institutions and their holding companies were required to file SARs and were examined by banking regulators for compliance. GAO determined that with the passage of the 1999 Gramm-Leach-Bliley Act, these broker-dealers were no longer being examined to assess their compliance with SAR requirements. However, with the passage of the USA PATRIOT Act and the issuance of a final rule that was effective on July 31, 2002, all broker-dealers were required to report such activity. GAO is currently studying the depository institution regulators' BSA examination and enforcement process for the Senate Committee on Banking, Housing, and Urban Affairs. The objectives include determining how the regulators' risk-focused examinations assess BSA compliance, the extent to which the regulators identify BSA and AML violations and take supervisory actions, and the consistency of BSA compliance examination procedures and interpretation of violations across regulators. GAO plans to determine whether and to what extent regulators curtailed BSA compliance examinations and the bases for these decisions. GAO plans to track supervisory actions taken to correct violations identified. GAO will also examine the ramifications, if any, of the lack of delegation of authority to assess BSA compliance penalties by Treasury to the banking regulators, as mandated by statute. GAO will meet with government and industry officials to gain their perspective on the BSA compliance examination process. [ABSTRACT FROM AUTHOR]

In December 1997, the United States and 37 other nations adopted the Kyoto Protocol to the 1992 United Nations Framework Convention on Climate Change. They agreed in principle to significantly reduce their future greenhouse gas emissions. The advice of and consent of the Senate would be needed to commit the United States to the emissions reductions. Whether the Senate should take that step has been widely debated, mainly because the reductions could be costly to the U.S. economy and their effectiveness in addressing the problem of global climate change has been questioned. GAO convened a panel of experts in December 1998 to discuss the issues surrounding the Kyoto Protocol. GAO also prepared a background paper on ensuring compliance with international environmental agreements. GAO is publishing that background paper as a staff study. [ABSTRACT FROM AUTHOR]

The Office of Personnel Management (OPM) is modernizing the paper-intensive processes and antiquated information systems it uses to support the retirement of civilian federal employees through the Retirement Systems Modernization (RSM) program. In January 2008, we reported on the agency's management of this program, in which we noted concerns and made recommendations for improvement in four key areas: (1) system testing, (2) system defect resolution, (3) program cost estimation, and (4) program earned value management. The explanatory statement of the House Appropriations Committee regarding the fiscal year 2008 Consolidated Appropriations Act directed OPM to submit to Cpngressional Committees and to GAO not later than February 20, 2008, a report of its actions on the four areas of concern that we identified. Further, the explanatory statement directed that GAO provide to Congressional Committees and to OPM our comments on the agency's report. Our study determined that OPM initial RSM system test results did not provide assurance that a major system component--the Defined Benefits Technology Solution (DBTS)--would perform as intended, and that the agency's compressed and concurrent testing schedule increased the risk that it would not have sufficient resources or time to verify that the system will work as intended. We recommended that OPM ensure that sufficient resources are provided to fully test functionality, actions for mitigating the risks inherent in concurrent testing are identified, test results verify that all system components perform as expected, and test activities and results are subjected to independent verification and validation. OPM's report did not address the results of other critical tests that the agency had planned to conduct starting in December 2007 and ending in February 2008. Specifically, the report did not discuss the results of the following tests: (1) parallel test to verify that the new system produces the same results as existing systems; (2) integrated product test to confirm that system components meet functional requirements; (3) performance test to confirm that the new system meets performance requirements (e.g., processing volume and execution time); (4) business capability test to confirm the operational readiness of the new system for end users. Our study of RSM determined that trends in identifying and resolving system defects indicated a growing backlog of problems to be resolved prior to deployment of the new system. We recommended that the agency monitor and review DBTS defects to ensure that all urgent and high priority defects are resolved prior to system deployment and that the resolution of urgent and high priority defects is subjected to independent verification and validation. OPM reported progress toward resolving defects between October 2007 and January 2008. However, the agency did not report actual defect resolution data for February 2008; instead it reported the projected... [ABSTRACT FROM AUTHOR]

GAO reviewed the audit reports covering the financial statements of the Civil Air Patrol, for fiscal year 2001. GAO did not review the auditors' working papers and is not rendering an audit opinion. The audit reports included the auditors' opinion that, with one exception, the financial statements of the corporation were presented fairly in accordance with generally accepted accounting principles. The exception related to the units below wing level not being audited and not being included in these financial statements. [ABSTRACT FROM AUTHOR]

GAO reviewed the audit reports covering the financial statements of the Aviation Hall of Fame, for fiscal years 2002 and 2001. GAO did not review the auditors' working papers and is not rendering an audit opinion. The audit reports included the auditors' opinion that the financial statements of the corporation were presented fairly in accordance with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]

GAO reviewed the audit report covering the financial statements of the Civil Air Patrol for fiscal year 2000. GAO did not review the auditors' working papers and is not rendering an audit opinion. The audit report included the auditors' opinion that with one exception, the financial statements of the corporation were presented fairly in accordance with generally accepted accounting principles. The exception related to six wings as a region as well as unites below using level not being audited and not being included in these financial statements. [ABSTRACT FROM AUTHOR]

Tax-exempt organizations seeking to influence political elections--called Section 527 organizations--are estimated to spend millions of dollars annually in federal elections. These organizations use unregulated "soft money" for issue advocacy, such as sponsoring an advertisement that supports or opposes a candidate's position on an issue. Although all states require these groups to publicly release data on their finances and activities, no central source for such data exists. In July 2000, Congress passed legislation requiring Section 527 organizations to provide data on their purposes, officers, contributors, and expenses to the Internal Revenue Service (IRS) for public disclosure. IRS has established a website for this purpose, but GAO found that the website is difficult to use, and most of the disclosed data are not electronically searchable and downloadable--which can inhibit timely analysis of the relationship between political organizations and the influence of soft money on federal campaigns. IRS has done little to oversee Section 527 organizations' compliance with the law's filing and reporting requirements. As a result, IRS can provide four assurances that the data it disclosed on its website are timely, complete, and correct. IRS officials said that oversight has been limited because of (1) competing demands for resources, (2) the focus on educating Section 527 organizations and on publicly disclosing the data, and (3) having the lack of electronic data on Section 527 organizations. IRS has not developed a strategic plan to ensure that the law's requirements are met. [ABSTRACT FROM AUTHOR]

This report reviews the Department of Commerce's National Technical Information Service (NTIS), which is a permanent repository and principal disseminator of scientific, technical, engineering, and business-related information. NTIS acquires research reports primarily from federal agencies and their contractors and grantees as well as from international sources. GAO discusses (1) the various functions of NTIS; (2) the quantity, age, and demand trends of reports in NTIS' repository; (3) the extent to which the reports in NTIS' repository are readily available from other public sources; and (4) whether federal agencies are sending their reports to NTIS for sale to the public, as required by law. GAO found that NTIS provides its basic statutory clearinghouse repository function of collecting and disseminating full-text paper reports and various other fee-based services for agencies. These include brokerage services, distribution services, and Web services. NTIS has about 2.5 million reports in its repository that are to be retained permanently. About 75 percent of the reports are more than 12 years old, and NTIS has sold one or more copies of about eight percent of its 2.5 million reports. Of the 1.8 million reports more than 12 years old, only about one percent has sold since 1995. About 19 percent of NTIS reports were readily available from one or more of the four sources at the time GAO searched. Agencies often did not send their reports to NTIS as required by law. The reasons agencies cited for not sending their reports were that they (1) were unaware of the law; (2) would incur additional costs and duplication of effort to format and transfer information to NTIS that is free on the agency's Web site; or (3) did not believe their reports were covered because, in their view, their reports did not contain scientific, technical, or engineering information. [ABSTRACT FROM AUTHOR]

To help ensure the integrity of Medicare, the Health Care Financing Administration (HCFA) and its contractors need to develop reliable and sophisticated approaches to identify potentially fraudulent billing practices. It is especially important that they be able to match up third-party billers with the providers they represent so contractors can identify potentially questionable billing patterns and subject these claims to more scrutiny. Although HCFA has various efforts under way to better identify providers' questionable claims and their associated third-party billers, there continue to be gaps in its safeguards. HCFA needs to complete its provider recertification program as soon as possible so that it will have comprehensive information on all Medicare providers and their billers. GAO is also concerned about inherent problems with data reliability. [ABSTRACT FROM AUTHOR]

Pursuant to a legislative requirement, GAO provided information on the Department of Labor's (DOL) plan to develop and implement an electronic reporting and disclosure system and the status of the Department's efforts. GAO noted that: (1) DOL's implementation plan provides a general overview of the steps DOL will take to implement electronic filing of the Labor-Management Reporting and Disclosure Act (LMRDA) reports, create an electronic database, and make report data electronically accessible to the public through the Internet; (2) DOL officials cite labor organizations as the predominant filers of LMRDA reports; therefore, DOL is basing its development of its electronic reporting system on labor organizations' reporting requirements and will consider the feasibility of adding other filers after it has gained experience from the labor organizations' reporting; (3) according to DOL officials, they consulted with various agencies, vendors, and knowledgeable personnel about DOL's approach and the best practices for implementing this project; (4) DOL officials relied on contractors' help to develop the general plan and the timeline for the project's implementation; (5) DOL has also developed an internal operating plan to track the evolution of the project's progress, milestones, and costs for the current fiscal year; (6) DOL had made limited progress implementing its plan as of February 1999, but according to DOL officials the project is generally progressing on schedule; (7) DOL officials estimated that they had accomplished about 10 percent of the plan as of February 1999; (8) DOL plans to take 3 years to implement the project, expecting full implementation by the end of fiscal year 2001; (9) DOL will operate two systems--the paper one currently in effect and the electronic one--until it has developed filing experience under the electronic system and the demand for historical reports that cannot be converted to fit the new system has been reduced; (10) the total project cost is estimated to be about $4.2 million; and (11) as of February 1999, $1.5 million was available to fund the project. [ABSTRACT FROM AUTHOR]

GAO reviewed the audit reports covering the financial statements of the United States Olympic Committee for Fiscal Years 2001-2003. GAO found no reportable instances of noncompliance. 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. [ABSTRACT FROM AUTHOR]

GAO reviewed the audit reports covering the financial statements of the Pearl Harbor Survivors Association for the fiscal year ended September 30, 2003. GAO found no reportable instances of noncompliance. The audit report included the auditor's opinion that, with one exception, the financial statements of the corporation were presented fairly on a modified cash basis of accounting. The exception relates to the fact that the auditor was not present to observe the physical inventory count at September 30, 2003, and the corporation's records do not permit adequate retroactive tests of inventory balances. The corporation reported a prior period adjustment of $11,689 to correct for errors made in prior year's financial statements. [ABSTRACT FROM AUTHOR]

GAO reviewed the audit reports covering the financial statements of the Non Commissioned Officers Association of the United States of America, Inc., for fiscal years 2003, 2002, 2001, and 2000. GAO found no reportable instances of noncompliance. The audit report included the auditor's opinions that the financial statements of the corporation were presented fairly in accordance with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]

GAO reviewed the audit reports covering the financial statements of the Reserve Officers Association of the United States for Fiscal Years 2003 and 2004. GAO found no reportable instances of noncompliance. 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. [ABSTRACT FROM AUTHOR]

GAO reviewed the audit reports covering the financial statements of the Navy Club of the United States of America for Fiscal Years 2003. GAO found no reportable instances of noncompliance. The audit reports included the auditors' opinions that the financial statements of the corporation were presented fairly in accordance with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]

GAO reviewed the audit reports covering the financial statements of the Air Force Sergeants Association for fiscal years 2004 and 2003. GAO found no reportable instances of noncompliance. The audit reports included the auditors' opinion that the financial statements of the corporation were presented fairly in accordance with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]

GAO reviewed the audit report covering the financial statements of the American War Mothers for fiscal year 2003. GAO found no reportable instances of noncompliance. The audit reports included the auditors' opinions that the financial statements of the corporation were presented fairly in accordance with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]

GAO reviewed the audit reports covering the financial statements of the 82nd Airborne Division Association, Incorporated, for fiscal years 2003 and 2002. GAO found no reportable instances of noncompliance. The audit reports included the auditors' opinions that the financial statements of the corporation were presented fairly in accordance with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]

GAO reviewed the audit reports covering the financial statements of the Former Members of Congress, Incorporated, for fiscal year 2003. GAO found no reportable instances of noncompliance. The audit reports included the auditors' opinion that the financial statements of the corporation were presented fairly in accordance with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]

GAO reviewed the audit reports covering the financial statements of the General Federation of Women's Clubs for Fiscal Year 2003. GAO found no reportable instances of noncompliance. The audit reports included the auditors' opinions that the financial statements of the corporation were presented fairly in accordance with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]

GAO reviewed the audit reports covering the financial statements of the Fleet Reserve Association for fiscal years 2003 and 2002. GAO found no reportable instances of noncompliance. The audit reports included the auditors' opinion that the financial statements of the corporation were presented fairly in accordance with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]

GAO reviewed the audit reports covering the financial statements of the Congressional Medal of Honor Society of the United States of America, for fiscal year 2003. GAO found no reportable instances of noncompliance. The audit reports included the auditors' opinions that the financial statements of the corporation were presented fairly in accordance with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]

GAO reviewed the audit reports covering the financial statements of the Marine Corps League for Fiscal Years 2003 and 2002. GAO found no reportable instances of noncompliance. The audit reports included the auditors' opinions that the financial statements of the corporation were presented fairly in accordance with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]

GAO reviewed the audit reports covering the financial statements of the Military Order of the World Wars for fiscal year 2003. GAO found no reportable instances of noncompliance. The audit reports included the auditors' opinion that the financial statements of the corporation were presented fairly on a modified cash basis of accounting. [ABSTRACT FROM AUTHOR]

GAO reviewed the audit reports covering the financial statements of the Jewish War Veterans, U.S.A., National Memorial, Incorporated, for fiscal years 2004 and 2003. GAO found no reportable instances of noncompliance. The audit reports included the auditors' opinion that the financial statements of the corporation were presented fairly in accordance with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]

GAO reviewed the audit reports covering the financial statements of the Gold Star Wives of America, Incorporated, for fiscal years 2004 and 2003. GAO found no reportable instances of noncompliance. The audit reports included the auditors' opinions that the financial statements of the corporation were presented fairly in accordance with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]

GAO reviewed the audit reports covering the financial statements of the Military Chaplains Association of the United States of America for Fiscal Years 2003 and 2002. GAO found no reportable instances of noncompliance. The audit reports included the auditors' opinions that the financial statements of the corporation were presented fairly in accordance with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]

GAO reviewed the audit reports covering the financial statements of the Catholic War Veterans of the United States of America, Incorporated, for fiscal year 2003. GAO found no reportable instances of noncompliance. The audit reports included the auditors' opinion that the financial statements of the corporation were presented fairly in accordance with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]

The government produces billions of coins and currency notes each year. Coins are made by the U.S. Mint and issued by the Treasury Department. Currency notes are made by the Bureau of Engraving and Printing and issued by the Federal Reserve System (Fed). The Fed buys coins from the Mint at face value but pays the Bureau only the costs of printing currency. Coins on the books of the Fed are assets that are issued by the Mint, and notes are liabilities of the Federal Reserve Banks. In recent years congressional hearings have highlighted the confusion over differences in the budgetary and accounting treatment of coins and currency. In addition, the Treasury Inspector General and others have reported problems with Mint and Bureau operations. GAO was asked to review (1) how the costs and earnings from coins and currency are budgeted and accounted for and (2) whether any operational problems at the Mint and Bureau need further action. The earnings from issuing both coins and currency reduce government borrowing costs; however, how these earnings are budgeted and accounted for differs. Production costs of coins and currency are generally treated the same in the budget and accounting statements. The difference between the face value of coins and the costs of minting them results in earnings, called seigniorage, which is shown in the budget as a reduction in needed borrowing for the government, after the deficit or surplus for the year is calculated. The budgetary impact of seigniorage is interest avoided from the borrowing it displaces and is not visible because it is neither quantified nor shown in the budget. The government also generates earnings by issuing currency, but it is handled differently. The difference between the face value of currency issued and its production cost goes to the Fed. The Fed buys collateral, usually Treasury securities, to back up the currency issued. The interest collected on those Treasury securities is used to pay for Fed costs, and the remainder is returned to Treasury. The budgetary impact of issuing currency comes from the interest returned by the Fed, which is shown as a budgetary receipt and counted in the calculation of the deficit or surplus. Production costs of both coins and currency are shown as costs of operations in Treasury's financial statements. According to the Federal Accounting Standards Advisory Board, seigniorage should be shown as a source of financing in Treasury's statement of changes in net position, whereas interest returned by the Fed for currency is shown as revenue in Treasury's statement of custodial activity. Treasury has not been reporting seigniorage this way but made the correction beginning with its fiscal year 2003 financial statements. Both the Mint and the Bureau have had operational problems in recent years in contracting and acquiring property and equipment. The Mint has also had problems with forecasting demand, monitoring costs, and reporting to Congress. The Mint and Bureau have generally taken or started to take actions to address the problems. The Mint has clarified its first quarterly report for 2004 to include more information on how retained funds will be used. However, the Mint is still not explicitly stating whether the retained amounts are in excess of the estimated operating costs for the following year and, if so, it is not explaining how the retained earnings will be used, as required by law. [ABSTRACT FROM AUTHOR]

The federal government buys about $200 billion worth of goods and services each year. Through its purchasing decisions, the federal government can signal its commitment to preventing pollution, reducing solid waste, increasing recycling, and stimulating markets for environmentally friendly products. The Resource Conservation and Recovery Act of 1976 (RCRA) directs the Environmental Protection Agency (EPA) to identify products made with recycled waste materials or solid waste by-products and to develop guidance for purchasing these products. The act also requires procuring agencies to establish programs for purchasing them. This report examines efforts by federal agencies to (1) implementation of RCRA requirements for procuring products with recycled content and (2) the purchase of environmentally preferable and bio-based products. EPA accelerated its efforts in the 1990s to identify recycled-content products, but the status of agencies' efforts to implement the RCRA purchasing requirements for these products is uncertain. The four major procuring agencies report that, for many reasons, their procurement practices have not changed to increase their purchases of environmentally preferable and bio-based products. One reason for the lack of change is that EPA and the U.S. Department of Agriculture have been slow to develop and implement the programs. [ABSTRACT FROM AUTHOR]

Pursuant to a congressional request, GAO reviewed the audit report covering the financial statements of the Non Commissioned Officers Association, Incorporated, for the years ended December 31, 1997 and 1996, focusing on whether the audit report complied with the financial reporting requirements of the law. GAO noted that: (1) nothing came to GAO's attention that would cause it to believe that the financial reporting requirements of the law have not been met; (2) the corporation reported that its liabilities exceeded its assets by approximately $882,000 and $462,000 at the end of 1996 and 1997, respectively; and (3) the audit report included the auditor's opinion that the financial statements of the corporation were fairly presented in accordance with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]

Pursuant to a congressional request, GAO reviewed the audit report covering the financial statements of the National Woman's Relief Corps, Auxiliary to the Grand Army of the Republic, Incorporated, for the fiscal year ended August 31, 1997, focusing on whether the audit report complied with the financial reporting requirements of the law. GAO noted that: (1) nothing came to GAO's attention that would cause it to believe that the financial reporting requirements of the law have not been met; and (2) 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. [ABSTRACT FROM AUTHOR]

Pursuant to a congressional request, GAO reviewed the audit report covering the financial statements of the National Society Daughters of the American Colonists for the fiscal year ended February 28, 1998, focusing on whether the audit report complied with the financial reporting requirements of the law. GAO noted that: (1) nothing came to GAO's attention that would cause it to believe that the financial reporting requirements of the law have not been met; and (2) the audit report included the auditor's opinion that the financial statements of the corporation were fairly presented in accordance with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]

Pursuant to a congressional request, GAO reviewed the audit report covering the financial statements of the National Ski Patrol System, Incorporated, for the fiscal year ended June 30, 1998, focusing on whether the audit report complied with the financial reporting requirements of the law. GAO noted that: (1) nothing came to GAO's attention that would cause it to believe that the financial reporting requirements of the law have not been met; and (2) the audit report included the auditor's opinion that the financial statements of the corporation were fairly presented in conformity with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]

Pursuant to a congressional request, GAO reviewed the audit report covering the financial statements of the Military Chaplains Association of the United States of America for the fiscal year ended December 31, 1997, focusing on whether the audit report complied with the financial reporting requirements of the law. GAO noted that: (1) nothing came to GAO's attention that would cause it to believe that the financial reporting requirements of the law have not been met; and (2) the audit report included the auditor's opinion that the financial statements of the corporation were fairly presented in conformity with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]

Pursuant to a congressional request, GAO reviewed the audit report covering the financial statements of the Legion of Valor of the United States of America Incorporated, for the fiscal year ended April 30, 1998, focusing on whether the audit report complied with the financial reporting requirements of the law. GAO noted that: (1) nothing came to GAO's attention that would cause it to believe that the financial reporting requirements of the law have not been met; and (2) the audit report included the auditor's opinion that the financial statements of the corporation were fairly presented in conformity with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]

Pursuant to a congressional request, GAO reviewed the audit report covering the financial statements of the Jewish War Veterans, U.S.A., National Memorial, Incorporated, for the fiscal year ended March 31, 1998, focusing on whether the audit report complied with the financial reporting requirements of the law. GAO noted that: (1) nothing came to GAO's attention that would cause it to believe that the financial reporting requirements of the law have not been met; and (2) the audit report included the auditor's opinion that the financial statements of the corporation were presented in conformity with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]

Pursuant to a congressional request, GAO reviewed the audit report covering the financial statements of the American National Theatre and Academy for the fiscal year ended June 30, 1997, focusing on whether the audit report complied with the financial reporting requirements of the law. GAO noted that: (1) nothing came to GAO's attention that would cause it to believe that the financial reporting requirements of the law have not been met; and (2) the audit report included the auditor's opinion that the financial statements of the corporation were presented in accordance with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]

Pursuant to a congressional request, GAO reviewed the audit reports covering the financial statements of Southeastern University of the District of Columbia for the fiscal years ended August 31, 1994, 1995, 1996, and 1997, focusing on whether the audit reports complied with the financial requirements of the law. GAO noted that: (1) nothing came to GAO's attention that would cause it to believe that the financial reporting requirements of the law have not been met; and (2) the audit reports included the auditors' opinion that the financial statements were fairly presented in conformity with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]

Pursuant to a congressional request, GAO reviewed the audit report covering the financial statements of the Italian-American War Veterans of the United States, Incorporated, for the fiscal year ended August 31, 1997, focusing on whether the audit report complied with the financial requirements of the law. GAO noted that: (1) nothing came to GAO's attention that would cause it to believe that the financial reporting requirements of the law have not been met; and (2) the audit report included the auditor's opinion that the financial statements of the corporation were presented on the basis of cash receipts and disbursements. [ABSTRACT FROM AUTHOR]

Pursuant to a congressional request, GAO reviewed the audit reports covering the financial statements of the Legion of Valor of the United States of America, Incorporated, for the fiscal year ended April 30, 1997, focusing on whether the audit report complied with the financial requirements of the law. GAO noted that: (1) nothing came to GAO's attention that would cause it to believe that the financial reporting requirements of the law have not been met; and (2) the audit report included the auditor's opinion that the financial statements of the corporation were presented in conformity with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]

Pursuant to a congressional request, GAO reviewed the audit report covering the financial statements of the Fleet Reserve Association for fiscal year ended September 30, 1997, focusing on whether the audit report complied with the financial reporting requirements of the law. GAO noted that: (1) during its review, nothing came to its attention that would cause GAO to believe that the financial reporting requirements of the law have not been met; and (2) the audit report included the auditor's opinion that the financial statements of the corporation were fairly presented in accordance with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]

Pursuant to a congressional request, GAO reviewed the audit report covering the financial statements of the United States Capitol Historical Society for fiscal year ended January 31, 1997, focusing on whether the audit report complied with the financial reporting requirements of the law. GAO noted that: (1) during its review, nothing came to its attention that would cause GAO to believe that the financial reporting requirements of the law have not been met; and (2) the audit report included the auditor's opinion that the financial statements of the corporation were presented in accordance with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]

GAO reviewed the audit reports covering the financial statements of the Blue Star Mothers of America, Inc. for fiscal year 2001. GAO did not review the auditors' working papers, and therefore did not render an opinion. [ABSTRACT FROM AUTHOR]

Pursuant to a congressional request, GAO reviewed the audit report covering the financial statements of the Girl Scouts of the United States of America for fiscal years ended September 30, 1997 and 1998, focusing on whether the audit report complied with the financial reporting requirements of the law. GAO noted that the: (1) review disclosed no reportable instances of noncompliance; and (2) audit report included the auditor's opinion that the financial statements of the corporation were presented fairly in accordance with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]

GAO reviewed the audit reports covering the financial statements of the Future Farmers of America for Fiscal Years 2003 and 2002. GAO found no reportable instances of noncompliance. The audit reports included the auditors' opinions that the financial statements of the corporation were presented fairly in accordance with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]

GAO reviewed the audit reports covering the financial statements of the National Academy of Public Administration, for fiscal year 2003. GAO found no reportable instances of noncompliance. The audit reports included the auditors' opinions that the financial statements of the corporation were presented fairly in accordance with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]

GAO reviews the audit reports covering the financial statements of the Former Member of Congress for fiscal years 2001 and 2002. GAO found no reportable instances of noncompliance. The audit report included auditors' opinions that the financial statements of the corporation were presented fairly in accordance with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]

We reviewed the audit reports covering the financial statements of the Disabled American Veterans, for fiscal years 2002, and 2001. GAO's review disclosed no reportable instances of noncompliance with the financial reporting requirements of the law. The audit reports included the auditors' opinions that the financial statements of the corporation were presented fairly in accordance with generally accepted accounting principles. [ABSTRACT FROM AUTHOR]