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United States · Bill · S

S. 2680 (108th)

Financial Accountability Expansion Act of 2004

openUnited States· United States Congress· EN

Introduced

16 July 2004

Last action

22 July 2004 · Introduced

Status

Sponsor introductory remarks on measure. (CR S8747)

Sponsors

Sen. Fitzgerald, Peter [R-IL], Sen. Akaka, Daniel K. [D-HI]

Subjects

Taxation, Budget

Source updated

18 August 2025

Taxation · Budget

Official sourceDownload fileView documentsShare

Summary

Financial Accountability Expansion Act of 2004 - Amends Federal law governing financial statements of Federal agencies to: (1) repeal the authority of the Director of the Office of Management and Budget (OMB) to exempt certain executive small-sized executive agencies from submitting annual financial statements; and (2) instruct OMB to notify the Secretary of the Treasury (Secretary) which executive agencies have size or budgetary limitations that do not support the internal preparation of a mandated financial statement. Directs the Secretary to: (1) prepare such financial statements or contract for their preparation; and (2) contract with independent auditors to audit them. Amends the Accountability of Tax Dollars Act of 2002 to make technical and conforming amendments to reflect this Act. Directs OMB to require each Federal entity that is not currently required to prepare an independently audited annual financial statement to submit one prepared in accordance with generally accepted auditing principles.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 16 July 2004

    Introduced

    Read twice and referred to the Committee on Governmental Affairs. (text of measure as introduced mislabeled in CR as S.2683: CR S8279-8280)

    Source: IntroReferral

  2. 16 July 2004

    Introduced

    Sponsor introductory remarks on measure. (mislabeled in CR as S.2683: CR S8279)

    Source: IntroReferral

  3. 16 July 2004

    Introduced

    Introduced in Senate

    Source: IntroReferral

  4. 22 July 2004

    Introduced

    Sponsor introductory remarks on measure. (CR S8747)

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in Senate (text)

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  • Introduced in Senate (text)

    Introduced in Senate · EN · 16 July 2004

    ViewDownloadOpen at official source

  • Introduced in Senate (PDF)

    Introduced in Senate · EN · 16 July 2004

    ViewDownloadOpen at official source

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  • Introduced in Senate

    summary · EN · 16 July 2004

    Open at official source

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Sponsors

Related records

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Sources

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