Review of Audit Report of the National Academy of Sciences for Year Ended June 30, 1977

The audit report of the National Academy of Sciences for the year ended June 30, 1977 was prepared by a firm of certified public accountants. It included a statement of the scope of audit and the auditor's opinion that the financial statements present fairly the financial position of the federally chartered corporation at June 30, 1977, and the results of operations and changes in fund balances for the year then ended, in conformity with generally accepted accounting principles applied on a basis consistent with the preceding year. The audit and financial reporting requirements of Public Law 88-504 have been met.