Sec. 1002. Annual audit of financial statements of Department of Defense components by independent external auditors
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For purposes of satisfying the requirement under section 3521(e) of title 31, United States Code, for audits of financial statements of Department of Defense components identified by the Director of the Office of Management and Budget under section 3515(c) of such title, the Inspector General of the Department of Defense shall obtain each year audits of the financial statements of each such component by an independent external auditor. The Inspector General shall— select independent external auditors for purposes of subsection
(a)based, among other appropriate criteria, on their qualifications, independence, and capacity to conduct audits described in subsection
(a)in accordance with applicable generally accepted government auditing standards; and shall monitor the conduct of such audits. The Inspector General shall require the independent external auditors conducting audits under subsection
(a)to submit a report on their audits each year to the Secretary of Defense, the Controller of the Office of Federal Financial Management in the Office of Management and Budget, and the appropriate committees of Congress. In this subsection, the term appropriate committees of Congress means— the Committee on Armed Services, the Committee on Homeland Security and Governmental Affairs, and the Committee on Appropriations of the Senate; and the Committee on Armed Services, the Committee on Oversight and Government Reform, and the Committee on Appropriations of the House of Representatives. The requirements of this section— shall be implemented in a manner that is consistent with the requirements of section 1008 of the National Defense Authorization Act for Fiscal Year 2002 ( 10 U.S.C. 2222 note); shall not be construed to alter the requirement under section 3521(e) of title 31, United States Code, that the financial statements of the Department of Defense as a whole be audited by the Inspector General or by an independent external auditor, as determined by the Inspector General; and shall not be construed to limit or alter the authorities of the Comptroller General of the United States under section 3521(g) of title 31, United States Code.
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Sec. 1002
Annual audit of financial statements of Department of Defense components by independent external auditors
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