§807. Audits

(a) Contracts with independent public accountant

The Board shall enter into a contract with an independent public accountant to conduct an annual audit in accordance with generally accepted government auditing standards, of the financial records of the Board and of any corporation established under section 806(i) of this title, and shall ensure that the independent public accountant has access for the purpose of the audit to any books, documents, papers, and records of the Board or such corporation (or any agent of the Board or such corporation) which the independent public accountant reasonably determines to be pertinent to the Congressional Award Program.

(b) Annual report to Congress on audit results

Not later than May 15 of each calendar year, the Board shall submit to appropriate officers, committees, and subcommittees of Congress and to the Comptroller General of the United States a report on the results of the most recent audit conducted pursuant to this section, and shall include in the report information on any such additional areas as the independent public accountant who conducted the audit determines deserve or require evaluation.

(c) Review by the Comptroller General of annual audit

(1) The Comptroller General of the United States shall review each annual audit conducted under subsection (a).

(2) For purposes of a review under paragraph (1), the Comptroller General, or any duly authorized representative of the Comptroller General, shall have access to any books, documents, papers, and records of the Board or such corporation, or any agent of the Board or such corporation, including the independent external auditor designated under subsection (a), which, in the opinion of the Comptroller General, may be pertinent.

(3) Not later than 180 days after the date on which the Comptroller General receives a report under subsection (b), the Comptroller General shall submit to Congress a report containing the results of the review conducted under paragraph (1) with respect to the preceding year.

( Pub. L. 96–114, title I, §107, formerly §8, Nov. 16, 1979, 93 Stat. 855 ; Pub. L. 99–161, §4(g), Nov. 25, 1985, 99 Stat. 935 ; Pub. L. 100–674, §2(e), Nov. 17, 1988, 102 Stat. 3998 ; Pub. L. 101–525, §8, Nov. 6, 1990, 104 Stat. 2308 ; renumbered title I, §107, Pub. L. 106–533, §1(b)(1), (2), Nov. 22, 2000, 114 Stat. 2553 ; Pub. L. 113–188, title IX, §902(c)(1), Nov. 26, 2014, 128 Stat. 2021 .)

Editorial Notes

Amendments

2014-Pub. L. 113–188 amended section generally. Prior to amendment, section related to annual audits and reports by the Comptroller General.

1990-Subsec. (a). Pub. L. 101–525, §8(1), substituted "section 806(i) of this title" for "section 806(h) of this title" and "annually" for "at least biennially".

Subsec. (b). Pub. L. 101–525, §8(2), added subsec. (b) and struck out former subsec. (b) which required audit to assess adequacy of fiscal control and funds accountability procedures and propriety of expenses.

Subsecs. (c), (d). Pub. L. 101–525, §8(2), struck out subsec. (c) which required the Comptroller General to include in report on first audit performed after Nov. 25, 1985, an evaluation of programs and activities under this chapter and specified contents of such evaluation, and subsec. (d) which directed that report on first audit performed after Nov. 25, 1985, was to be submitted on or before May 15, 1988.

1988-Subsec. (a). Pub. L. 100–674 substituted "section 806(h)" for "section 806(g)".

1985-Pub. L. 99–161, §4(g)(1), inserted "and evaluation" after "Audits" in section catchline.

Subsec. (a). Pub. L. 99–161, §4(g)(2)–(4), designated existing provisions as subsec. (a), substituted "shall be audited at least biennially" for "may be audited", and struck out "at such times as the Comptroller General may determine to be appropriate" after "referred to as the 'Comptroller General')".

Subsecs. (b) to (d). Pub. L. 99–161, §4(g)(5), added subsecs. (b) to (d).

Statutory Notes and Related Subsidiaries

Effective Date of 2014 Amendment

Amendment by Pub. L. 113–188 effective Oct. 1, 2014, see section 902(c)(3) of Pub. L. 113–188, set out as a note under section 804 of this title.