This is the accessible text file for GAO report number GAO-02-1118R
entitled 'Federally Chartered Corporation: Review of the Financial Statement Audit Reports for The Retired Enlisted Association, Incorporated, for 2001, 2000, and 1999' which was released on September 20, 2002. 

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United States General Accounting Office: 
Washington, DC 20548: 

September 20, 2002: 

The Honorable F. James Sensenbrenner, Jr. 
Committee on the Judiciary: 
House of Representatives: 

Subject: Federally Chartered Corporation: Review of the Financial Statement Audit Reports for The Retired Enlisted Association, Incorporated, for 2001, 2000, and 1999: 

Dear Mr. Chairman: 

As requested, we reviewed the audit reports covering the financial statements of The Retired Enlisted Association, Incorporated, a federally chartered corporation, for the years ended December 31, 2001, 2000, and 1999. The corporation promotes its members professionally and culturally and helps to improve the relationship between the civilian and military populace and acts as liaison with the active personnel of the Armed Forces. 

Federally chartered corporations are required under 36 U.S.C. ß10101 

* present the corporationís assets and liabilities and reasonable 
detail on the corporationís income and expenses in annual financial 

* obtain an annual financial audit by an independent public accountant, 

* submit the auditorsí report and the corporationís financial 
statements to the Congress. 

The objective of our review was to determine whether the audit report 
complied with the financial reporting requirements of the law. In 
carrying out our work, we reviewed the corporationís financial 
statements and the accompanying notes, performed certain analytical 
procedures related to information presented in the financial 
statements, and reviewed the auditorsí report. However, we did not 
review the auditorsí 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 report included the auditorsí opinion that the financial 
statements of the corporation were presented fairly in accordance with 
U.S. generally accepted accounting principles. We are returning the 
audit report you sent with your letter. 

Sincerely yours, 

Signed by: 
Jeanette M. Franzel: 
Financial Management and Assurance: 

w/o Enclosure: