This is the accessible text file for GAO report number GAO-03-1078R 
entitled 'Federally Chartered Corporation: Review of the Financial 
Statement Audit Reports for The Foundation of the Federal Bar 
Association for Fiscal Years 2001 and 2000' which was released on 
August 07, 2003.

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August 7, 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 Foundation of the Federal Bar 
Association for Fiscal Years 2001 and 2000:

Dear Mr. Chairman:

As requested, we reviewed the audit report covering the financial 
statements of The Foundation of the Federal Bar Association, a 
federally chartered corporation, for the fiscal years ended September 
30, 2001 and 2000. The Foundation's purposes are to promote the study 
of law through various programs and to provide for the acquisition, 
presentation, and exhibition of rare objects of historical interest 
relating to the law, the courts, and the legal profession.

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.

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,

Jeanette M. Franzel:

Director 

Financial Management and Assurance:

Signed by Jeanette M. Franzel:

w/o Enclosure:

(194264):