To amend title 31, United States Code, to expand the types of Federal agencies that are required to prepare audited financial statements.
Authorizes the Director to exempt a covered agency, with specified exceptions, from preparing such a statement for any fiscal year for which: (1) the total amount of budget authority available to the agency does not exceed $25 million; and (2) the Director determines that requiring an annual audited financial statement is not warranted due to the absence of risks associated with the agency's operations, the agency's demonstrated performance, or other factors that the Director considers relevant. Requires the Director to annually notify the House Committee on Government Reform and the Senate Committee on Governmental Affairs of each agency the Director has exempted and the reasons for each exemption.
By Senator Lieberman from Committee on Governmental Affairs filed written report under authority of the order of the Senate of 10/17/2002. Report No. 107-331.
Referred to the House Committee on Government Reform.
Referred to the Subcommittee on Government Efficiency, Financial Management and Intergovernmental Relations.
Subcommittee Hearings Held.
Subcommittee Consideration and Mark-up Session Held.
Mr. Horn moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H7041-7043)
DEBATE - The House proceeded with forty minutes of debate on H.R. 4685.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text: CR H7041)
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H7041)
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate, read twice.
Passed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.(consideration: CR S10777)
Enacted as Public Law 107-289
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Passed Senate without amendment by Unanimous Consent. (consideration: CR S10777)
Message on Senate action sent to the House.
Presented to President.
Presented to President.
Signed by President.
Signed by President.
Became Public Law No: 107-289.
Became Public Law No: 107-289.