The Vietnam Veterans Memorial Fund's Financial Operations Were Properly Accounted for and Reported

AFMD-84-59: Published: May 23, 1984. Publicly Released: May 23, 1984.

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Pursuant to congressional requests and in response to allegations raised by a television station and others, GAO conducted a comprehensive audit of the financial operations of the Vietnam Veterans Memorial Fund. The Fund was authorized to erect the Vietnam Veterans Memorial in Washington, D.C.

GAO found that: (1) receipts and disbursements were properly accounted for and reported by the Fund; (2) fundraising costs were reasonable in relation to fundraising receipts; (3) disbursements made by the Fund were for goods and services received and were properly documented; (4) disbursements made by the Fund were for activities consistent with its charter and its purposes; (5) prior financial audits of the Fund were properly conducted in accordance with generally accepted auditing standards; (6) the Fund did not attempt to conceal its financial information; and (7) numerous allegations raised by a television reporter's investigation and by others were unsubstantiated. GAO noted that its investigation did not reveal any improper or illegal actions by the Fund, its officers, or its directors.

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