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Financial Audit: Congressional Award Foundation's 1997 and 1996 Financial Statements

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Report Type Reports and Testimonies
Report Date May 15, 1998
Report No. AIMD-98-153
Subject
Summary:

The Congressional Award Foundation, formed in 1979, is a private, nonprofit, tax-exempt organization that promotes excellence among youth in public service, personal development, and physical fitness. GAO audited the Foundation's 1997 and 1996 financial statements and found that (1) they were reliable in all material respects; (2) the Foundation's management fairly stated that internal controls effectively safeguarded assets from material loss, ensured compliance with laws and regulations, and ensured that no material misstatements appeared in the financial statements; and (3) there was no reportable noncompliance with laws and regulations.

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