This is the accessible text file for GAO report number GAO-07-668R 
entitled 'Federally Chartered Corporation: Financial Statement Audit 
Report for the Jewish War Veterans of the United States of America, 
Inc., for Fiscal Years 2005 and 2004' which was released on April 5, 

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April 5, 2007: 

The Honorable F. James Sensenbrenner, Jr. 
House of Representatives: 

Subject: Federally Chartered Corporation: Financial Statement Audit 
Report for the Jewish War Veterans of the United States of America, 
Inc., for Fiscal Years 2005 and 2004: 

Dear Mr. Sensenbrenner: 

As requested, we read the audit report covering the financial 
statements of the Jewish War Veterans of the United States of America, 
Inc., a federally chartered corporation, for the fiscal years ended 
June 30, 2005 and 2004. The corporation's purposes include preserving 
the records of patriotic service performed by the men and women of the 
Jewish faith and honoring their memory. 

Federally chartered corporations are required under 36 U.S.C.  10101 

* 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. 

Our objective was to advise you of any matters in the report regarding 
compliance with the financial reporting requirements of the law. In 
carrying out our work, we read the corporation's financial statements 
and the accompanying notes, performed certain analytical procedures 
related to information presented in the financial statements, and read 
the auditor's report. We did not identify any instance of noncompliance 
with the above financial reporting requirements of the law. 

We did not perform an audit or review the auditor's audit 
documentation, and we are not rendering an audit opinion. 

The audit report included the auditor's opinion that, with two 
exceptions, the financial statements of the corporation were presented 
fairly in accordance with U.S. generally accepted accounting 
principles. The first exception relates to the fact that the auditor 
could not determine the actual amount of the accrued pension liability 
at June 30, 2004 and the required disclosures. The second exception 
relates to the fact that the financial statements are not consolidated 
even though the organization has a majority voting interest and 
significant economic interest in the Jewish War Veterans, U.S.A., 
National Memorial, Inc. Both exceptions are departures from accounting 
principles generally accepted in the United States of America. We are 
returning the audit report you sent with your letter. 

This letter is intended solely for your use. This letter will be 
available at no charge on GAO's Web site at 

If you have any questions or would like to discuss this letter, please 
contact me at (202) 512-3406 or by e-mail at 
Contact points for our Offices of Congressional Relations and Public 
Affairs may be found on the last page of this letter. Key contributors 
to this letter were Charles Payton, Assistant Director; David Elder; 
and Franklin Ng. 

Sincerely yours, 

Signed by: 

Steven J. Sebastian: 
Financial Management and Assurance: 


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