GAO reviewed the financial statements for the year ended December 31, 1980, of the Disabled American Veterans (DAV) National Headquarters. DAV is a federally chartered, privately funded, nonprofit corporation established to advance the interests of injured and disabled American veterans. GAO reviewed the workpapers and audit report of the independent certified public accountanting firm that DAV uses to determine the quality of its work and the extent to which GAO could rely on the firm's audits. GAO performed such tests as necessary to ensure that: DAV financial statements were prepared in accordance with generally accepted accounting principles, the audit was made in accordance with generally accepted auditing standards, and the accounting firm had established the necessary policies and procedures to comply with other applicable professional standards.
Matter for Congressional Consideration
|Congress should amend the authorizing legislation of the Disabled American Veterans (DAV) to eliminate the requirement for an annual audit of DAV financial statements by GAO.||The House Committee on the Judiciary does not intend to act on the recommendation, but prefers GAO or DAV to sponsor legislation to make the desired change. DAV plans to do so.|