GAO-03-854R American Gold Star Mothers, Incorporated 

United States General Accounting Office

Washington, DC 20548 

June 5, 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 

Report for the American Gold Star Mothers, Incorporated, for Fiscal Years 

2002 and 2001

Dear Mr. Chairman: 

As requested, we reviewed the audit report covering the financial statements of the 

American Gold Star Mothers, Incorporated, a federally chartered corporation, for the 

fiscal years ended June 30, 2002 and 2001. The corporation was established in 1928 

for the purpose of perpetuating the ideals of Americanism for which members’ 

relatives fought and died. 

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 report 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’ report. 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. 
GAO-03-854R American Gold Star Mothers, Incorporated Page 2

The audit report included the auditors’ opinion that the financial statements of the 

corporation were presented fairly on a modified cash basis of accounting. We are 

returning the audit report you sent with your letter. 

Sincerely yours, 

Jeanette M. Franzel 

Director 

Financial Management and Assurance 

Enclosure 

(194223) 
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