General Accounting Office Act

Summary

General Accounting Office Act - Title I: Statistical Sampling Procedures in Examination of Vouchers - Provides that whenever the head of any department or agency of the Government or the Commissioner of the District of Columbia determines that economies will result therefrom, such agency head or the Commissioner may prescribe the use of adequate and effective statistical sampling procedures in the examination of disbursement vouchers. Title II: Audit of Transportation Payments - Allows the payment for transportation of persons or property for or on behalf of the United States by any carrier or forwarder to be made upon presentation of bills therefore prior to audit by the executive agency or agencies designated by the Director of the Office of Management and Budget, but the right is reserved to the United States Government to deduct the amount of any overcharge by any carrier or forwarder from any amount subsequently found to be due such carrier or forwarder. Title III: Audit of Nonappropriated Fund Activities - Provides that the operations of nonappropriated funds and related activities within the executive branch, the systems of accounting and internal controls and any internal or independent audits or reviews of such funds and activities, unless otherwise provided by law, shall be subject to review by the Comptroller General of the United States in accordance with such principles and procedures and under such rules and regulations as he may prescribe. Authorizes the Comptroller General to have access to such books, accounts, records, documents, reports, files, and other papers, things, or property relating to such funds and activities as he deems necessary. Title IV: Employment of Experts and Consultants - Limits the number of experts the Comptroller General is permitted to hire. Provides that compensation for such experts shall not exceed the rate for level V of the Executive Schedule. Title V: General Accounting Office Building - Gives the Comptroller General exclusive custody and control over the General Accounting Office Building, including the operation, maintenance, repairs, alterations, and assignment of space therein. Title VI: Audits of Government Corporations - Provides that each wholly owned Government corporation shall be audited at least once in every three years. Requires that a report of each audit shall be made by the Comptroller General to the Congress not later than six and one-half months following the close of the last year covered by such audit. Title VII: Revision of Annual Audit Requirements - Provides that, as of June 30 of each year, there shall be covered into the United States Treasury as miscellaneous receipts any surplus in the General Supply Fund, all assets, liabilities, and prior losses above the amounts transferred or appropriated to establish and maintain said fund. Requires the Comptroller General to make audits of the General Supply Fund in accordance with the provisions of the Accounting and Auditing Act of 1950 and to make reports on the results thereof. Makes technical and conforming amendments to specified Acts. Title VIII: Limitation of Time on Claims and Demands - Reduces the statute of limitations on claims against the United States under the jurisdiction of the General Accounting Office from ten years to six years.

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Documents

2 official files

• Reported to Senate with amendment(s)

  summary · EN · 10 December 1974

  Open at official source

• Introduced in Senate

  summary · EN · 19 February 1974

  Open at official source

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