Federally Chartered Corporation
Review of the Financial Statement Audit Report for the Agricultural Hall of Fame for 2000 and 1999 Gao ID: GAO-02-453R February 28, 2002GAO reviewed the audit reports covering the financial statements of the Agricultural Hall of Fame for fiscal years 2000, and 1999. GAO found no reportable instances of noncompliance. The audit reports included the auditors' opinions that the financial statements of the corporation were presented fairly in accordance with generally accepted accounting principles.
GAO-02-453R, Federally Chartered Corporation: Review of the Financial Statement Audit Report for the Agricultural Hall of Fame for 2000 and 1999
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entitled 'Federally Chartered Corporation: Review of the Financial
Statement Audit Report for the Agricultural Hall of Fame for 2000 and
1999' which was released on February 28, 2002.
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United States General Accounting Office:
Washington, DC 20548:
February 28, 2002:
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 Agricultural Hall of Fame for 2000 and
1999:
Dear Mr. Chairman:
As requested, we reviewed the audit report covering the financial
statements of the Agricultural Hall of Fame,[Footnote 1] a federally
chartered corporation, for the years ended December 31, 2000 and 1999.
The Agricultural Hall of Fame was established to honor farmers and
others who have made outstanding contributions to the establishment,
development, advancement, or improvement of agriculture in the United
States.
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,
* obtain an annual financial audit by an independent public
accountant, and,
* submit the auditors‘ report and the corporation‘s financial
statements to the Congress.
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, reviewed the auditors‘ report, and made inquiries to
corporation officials or the auditors as we deemed necessary. We did
not review the auditors‘ working papers. Our review disclosed no
reportable instances of noncompliance.
The audit report included the auditors‘ opinion that the financial
statements of the corporation were presented fairly in accordance with
generally accepted accounting principles. We are returning the audit
report you sent with your letter.
Sincerely yours,
Signed by:
Jeanette M. Franzel:
Acting Director:
Financial Management and Assurance:
w/o Enclosure:
Footnote:
[1] The Agricultural Hall of Fame also goes by the name National
Agricultural Center and Hall of Fame.
