Page:United States Statutes at Large Volume 122.djvu/2694

 12 2 STA T . 2 67 1 PUBLIC LA W 11 0– 2 89—J UL Y3 0, 2008 ‘ ‘ (B)GOVERNM EN T O BLIGA TION S.—Purs u ant t o a r eq uest un d er su bp ara g rap h ( A ) , the S e c retar y o f the T reasury sha l l i n v est such a m ounts in Government obliga - tions guaranteed as to principal and interest by the U nited States w ith maturities suitable to the needs of the Agency and bearing interest at a rate determined by the Secretary of the Treasury ta k ing into consideration current market yields on outstanding marketable obligations of the United States of comparable maturity. ‘‘(g) B UD GET AND F INAN C IAL M ANAGEMENT.— ‘‘( 1 ) FINANCIAL O P ERATING PLANS AND F ORECASTS.—The D irector shall provide to the Director of the O ffice of Manage- ment and Budget copies of the Director ’ s financial operating plans and forecasts, as prepared by the Director in the ordinary course of the Agency’s operations, and copies of the quarterly reports of the Agency’s financial condition and results of oper- ations, as prepared by the Director in the ordinary course of the Agency’s operations. ‘‘( 2 ) FINANCIAL STATEMENTS.—The Agency shall prepare annually a statement of— ‘‘(A) assets and liabilities and surplus or deficit ‘‘(B) income and e x penses; and ‘‘( C ) sources and application of funds. ‘‘( 3 ) FINANCIAL MANAGEMENT S Y STEMS.—The Agency shall implement and maintain financial management systems that— ‘‘(A) comply substantially with Federal financial management systems requirements and applicable Federal accounting standards; and ‘‘(B) use a general ledger system that accounts for activity at the transaction level. ‘‘( 4 ) ASSERTION OF INTERNAL CONTROLS.—The Director shall provide to the Comptroller General of the United States an assertion as to the effectiveness of the internal controls that apply to financial reporting by the Agency, using the standards established in section 3 5 12(c) of title 31, United States Code. ‘‘(5) R ULE OF CONSTRUCTION.—This subsection may not be construed as implying any obligation on the part of the Director to consult with or obtain the consent or approval of the Director of the Office of Management and Budget with respect to any report, plan, forecast, or other information referred to in para- graph (1) or any j urisdiction or oversight over the affairs or operations of the Agency. ‘‘(h) AUDIT OF AGENCY.— ‘‘(1) I N GENERAL.—The Comptroller General shall annually audit the financial transactions of the Agency in accordance with the United States generally accepted government auditing standards as may be prescribed by the Comptroller General of the United States. The audit shall be conducted at the place or places where accounts of the Agency are normally kept. The representatives of the Government Accountability Office shall have access to the personnel and to all books, accounts, documents, papers, records (including electronic records), reports, files, and all other papers, automated data, things, or property belonging to or under the control of or used or employed by the Agency pertaining to its financial transactions and necessary to facilitate the audit, and such representatives shall be afforded full facilities for verifying Deadlin e .R e cor d s . Deadline. Re p or t s.

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