48 U.S.C. § 1910 — Implementation of audit agreements

(a) Transmission of annual financial statement Upon receipt of the annual financial statement described in sections 1902(c)(4) and 1903(m)(4) of this title, the President must promptly transmit a copy of such statement to the Congress. (b) Annual audits by President (1) The President must cause an annual audit to be conducted of the annual financial statements described in sections 1902(c)(4) and 1903(m)(4) of this title. Such audit must be conducted in accordance with the Generally Accepted Government Auditing Standards promulgated by the Comptroller General of the United States. Such audit must be submitted to the Congress no later than 180 days after the end of the United States fiscal year. (2) The President must develop and implement procedures to carry out such audits. Such procedures must include the matters described in sections 1902(c)(2) and 1903(m)(2) of this title. (c) Authority of GAO The Comptroller General of the United States must have the authority to conduct the audits referred to in sections 1902(c)(1) and 1903(m)(1) of this title.