Federally Chartered Corporation:
Review of the Financial Statement Audit Report for the Fleet Reserve Association for Fiscal Year 1997
AIMD-98-198R: Published: Jun 16, 1998. Publicly Released: Jun 16, 1998.
- Full Report:
Pursuant to a congressional request, GAO reviewed the audit report covering the financial statements of the Fleet Reserve Association for fiscal year ended September 30, 1997, focusing on whether the audit report complied with the financial reporting requirements of the law.
GAO noted that: (1) during its review, nothing came to its attention that would cause GAO 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.