Federally Chartered Corporation: Review of the Financial Statement Audit Report for the Air Force Sergeants Association for Fiscal Year 1998

AIMD-99-58R: Feb 19, 1999

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Pursuant to a congressional request, GAO reviewed the audit report covering the financial statements of the Air Force Sergeants Association 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 accordance with generally accepted accounting principles.