This is the accessible text file for GAO report number GAO-03-1129R entitled 'Federally Chartered Corporation: Review of the Financial Statement Audit Report for the Reserve Officers Association of the United States for Fiscal Years 2002 and 2001' which was released on September 18, 2003. This text file was formatted by the U.S. General Accounting Office (GAO) to be accessible to users with visual impairments, as part of a longer term project to improve GAO products' accessibility. Every attempt has been made to maintain the structural and data integrity of the original printed product. Accessibility features, such as text descriptions of tables, consecutively numbered footnotes placed at the end of the file, and the text of agency comment letters, are provided but may not exactly duplicate the presentation or format of the printed version. The portable document format (PDF) file is an exact electronic replica of the printed version. We welcome your feedback. Please E-mail your comments regarding the contents or accessibility features of this document to Webmaster@gao.gov. 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. 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. September 18, 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 Reserve Officers Association of the United States for Fiscal Years 2002 and 2001: Dear Mr. Chairman: As requested, we reviewed the audit reports covering the financial statements of the Reserve Officers Association of the United States, a federally chartered corporation, for the fiscal years ended March 31, 2002 and 2001. The corporation's purpose is to support a military policy for the United States that will provide adequate national security. Federally chartered corporations are required under 36 U.S.C. ยง10101 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. 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 letter. Sincerely yours, Jeanette M. Franzel: Director Financial Management and Assurance: Signed by Jeanette M. Franzel: w/o Enclosures: (194343):