This is the accessible text file for GAO report number GAO-04-186R entitled 'Federally Chartered Corporation: Review of the Financial Statement Audit Reports for the National Fund for Medical Education for 2002 and 2003' which was released on November 21, 2003. This text file was formatted by the U.S. General Accounting Office (GAO) to be accessible to users with visual impairments, as part of a longer term project to improve GAO products' accessibility. Every attempt has been made to maintain the structural and data integrity of the original printed product. Accessibility features, such as text descriptions of tables, consecutively numbered footnotes placed at the end of the file, and the text of agency comment letters, are provided but may not exactly duplicate the presentation or format of the printed version. The portable document format (PDF) file is an exact electronic replica of the printed version. We welcome your feedback. Please E-mail your comments regarding the contents or accessibility features of this document to Webmaster@gao.gov. This is a work of the U.S. government and is not subject to copyright protection in the United States. It may be reproduced and distributed in its entirety without further permission from GAO. Because this work may contain copyrighted images or other material, permission from the copyright holder may be necessary if you wish to reproduce this material separately. November 21, 2003: The Honorable F. James Sensenbrenner, Jr. Chairman, Committee on the Judiciary: House of Representatives: Subject: Federally Chartered Corporation: Review of the Financial Statement Audit: Reports for the National Fund for Medical Education for 2002 and 2001: Dear Mr. Chairman: As requested, we reviewed the audit reports covering the financial statements of the National Fund for Medical Education, a federally chartered corporation, for the years ended December 31, 2002 and 2001. The corporation's purposes are to raise funds from private sources; administer and disperse funds for medical education; promote improvement in and interpret the needs of medical education; and prepare health professionals for a future role in health care delivery. Federally chartered corporations are required under 36 U.S.C. §10101 to 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. The objective of our review was to determine whether the audit reports complied with the financial reporting requirements of the law. In carrying out our work, we reviewed the corporation's financial statements and the accompanying notes, performed certain analytical procedures related to information presented in the financial statements, and reviewed the auditors' reports. However, we did not review the auditors' 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 reports included the auditors' opinions that the financial statements of the corporation were presented fairly in accordance with U.S. generally accepted accounting principles. We are returning the audit reports you sent with your letter. Sincerely yours, Jeanette M. Franzel: Director Financial Management and Assurance: Signed by Jeanette M. Franzel: w/o Enclosures: (194363):