Federally Chartered Corporation: Review of the Financial Statement Audit Report for the Naval Sea Cadet Corps for 1998 and 1997
GENERAL ACCOUNTING OFFICE WASHINGTON DC
Pagination or Media Count:
As requested, we reviewed the audit report covering the financial statements of the Naval Sea Cadet Corps, a federally chartered corporation, for the years ended December 31,1998 and 1997. The corporations purpose, in cooperation with the Department of the Navy, is to encourage and aid American young people to develop an interest and skill in basic seamanship and its naval adaptations, and to train them in seagoing skills. Federally chartered corporations are required under 36 U. S.C. 10101 to present the corporations assets and liabilities and reasonable detail on the corporations income and expenses in annual financial statements, obtain an annual financial audit by an independent public accountant, and submit the auditors report and the corporations financial statements to the Congress.
- Economics and Cost Analysis