Federally Chartered Corporation:
Review of the Financial Statement Audit Report for the Navy Wives Clubs of America for Fiscal Years 1997 and 1998
AIMD-00-241R, Jun 30, 2000
Pursuant to a congressional request, GAO reviewed the audit report covering the financial statements of the Navy Wives Clubs of America for fiscal years ended August 31, 1997, and 1998, focusing on whether the audit report complied with the financial reporting requirements of the law.
GAO noted that: (1) GAO's review disclosed no reportable instances of noncompliance; and (2) the audit report included the auditor's opinion that the financial statements of the corporation were presented fairly, in all material respects, on a modified cash basis of accounting.