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31 U.S.C. § 718 — Availability of draft reports

Federal law — U.S. Code and appendices · legal_authorities

31 U.S.C. § 718 — Availability of draft reports

**(a)** A draft report of an audit under [section 714 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title31-section714&num=0&edition=prelim) shall be submitted to the Financial Institutions Examination Council, the Federal Reserve Board, the Federal Deposit Insurance Corporation, or the Office of the Comptroller of the Currency for comment for 30 days. **(b)** (1) The Comptroller General may submit a part of a draft report to an agency for comment for more than 30 days only if the Comptroller General decides, after a showing by the agency, that a longer period is necessary and likely to result in a more accurate report. The report may not be delayed because the agency does not comment within the comment period. (2) When a draft report is submitted to an agency for comment, the Comptroller General shall make the draft report available on request to— (A) either House of Congress, a committee of Congress, or a member of Congress if the report was begun because of a request of the House, committee, or member; or (B) the Committee on Governmental Affairs of the Senate and the Committee on Government Operations of the House of Representatives if the report was not begun because of a request of either House of Congress, a committee of Congress, or a member of Congress. (3) This subsection is subject to statutory and executive order guidelines for handling and storing classified information and material. **(c)** A final report of the Comptroller General shall include— (1) a statement of significant changes of a finding, conclusion, or recommendation in an earlier draft report because of comments on the draft by an agency; (2) a statement of the reasons the changes were made; and (3) for a draft report submitted under subsection (a) of

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Source file: Laws/federal/codes/united-states-code/title-31/section-718-availability-of-draft-reports--dc6621f759.md
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Source location: Title 31, Chapter 7, § 718; chapter-007-government-accountability-office.md

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Federal law — U.S. Code and appendices · legal_authorities

2 U.S.C. § 21 — Oath of Senators

The oath of office shall be administered by the President of the Senate to each Senator who shall be elected, previous to his taking his seat.

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Federal law — U.S. Code and appendices · legal_authorities

31 U.S.C. § 714 — Audit of Financial Institutions Examination Council, Federal Reserve Board, Federal reserve banks, Federal Deposit Insurance Corporation, and Office of Comptroller of the Currency

**(a)** In this section, “agency” means the Financial Institutions Examination Council, the Board of Governors of the Federal Reserve System (in this section referred to as the “Board”), Federal reserve banks, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency. **(b)** Under regulations of the Comptroller General, the Comptroller General shall audit an agency, but may carry out an onsite examination of an open insured bank or bank holding company only if the appropriate agency has consented in writing. Audits of the Board and Federal reserve banks may not include— (1) transactions for or with a foreign central bank, government of a foreign country, or nonprivate international financing organization; (2) deliberations, decisions, or actions on monetary policy matters, including discount window operations, reserves of member banks, securities credit, interest on deposits, and open market operations; (3) transactions made under the direction of the Federal Open Market Committee; or (4) a part of a discussion or communication among or between members of the Board and officers and employees of the Federal Reserve System related to clauses (1)–(3) of this subsection. **(c)** (1) Except as provided in this subsection, an officer or employee of the Government Accountability Office may not disclose information identifying an open bank, an open bank holding company, or a customer of an open or closed bank or bank holding company. The Comptroller General may disclose information related to the affairs of a closed bank or closed bank holding company identifying a customer of the closed bank or closed bank holding company only if the Comptroller General believes the customer had a controlling influence in the management of the closed

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Federal law — U.S. Code and appendices · legal_authorities

31 U.S.C. § 718 — Availability of draft reports

Page 88 TITLE 31—MONEY AND FINANCE § 718 HISTORICAL AND REVISION NOTES Revised Section Source (U.S. Code) Source (Statutes at Large) 717(a) ...... 31:1157. Oct. 26, 1970, Pub. L. 91–510, § 207, 84 Stat. 1168. 717(b) ...... 31:1154(a). Oct. 26, 1970, Pub. L. 91–510, § 204(a)–(c), 84 Stat. 1168; re- stated July 12, 1974, Pub. L. 93–344, § 702(a), 88 Stat. 326. 717(c) ...... 31:1154(c). 717(d) ...... 31:1154(b). Subsection (a) restates the source provisions because of section 701 of the revised title and for consistency with section 101 of the revised title. In subsection (b), before clause (1), the word ‘‘evalu- ate’’ is substituted for ‘‘review and evaluate’’ to elimi- nate unnecessary words. In clause (3), the words ‘‘a committee of Congress’’ are substituted for ‘‘any com- mittee of the House of Representatives or the Senate, or any joint committee of the two Houses’’ for consist- ency and to eliminate unnecessary words. In subsection (c), the word ‘‘evaluate’’ is substituted for ‘‘review and evaluation’’ to eliminate unnecessary words. In subsection (d)(1), before clause (A), the words ‘‘committee of Congress’’ are substituted for ‘‘com- mittee of either House or any joint committee of the two Houses’’ for consistency and to eliminate unneces- sary words. In clause (A), the words ‘‘objectives and’’, ‘‘actual’’, and ‘‘but are not limited to’’ are omitted as surplus. In clause (B), the words ‘‘analyzing and’’ and ‘‘or evaluation studies’’ are omitted as surplus. In subsection (d)(2), the word ‘‘Congress’’ is sub- stituted for ‘‘either House’’ for clarity. The words ‘‘statement or other’’ are omitted as surplus. § 718. Availability of draft reports (a) A draft report of an audit under section 714 of this title shall be submitted to the Fi

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