Page:United States Statutes at Large Volume 122.djvu/2695

 12 2 STA T . 2 67 2 PUBLIC LA W 11 0– 2 89—J UL Y3 0, 2008 trans a c t io ns w it h th eb a l ances or sec u rities hel d b y de p osi - tories ,f iscal a g ents, and custodians .A ll such boo k s, accounts, docu m ents, records, reports, files, papers, and property of the Agency shall remain in possession and custody of the Agency. T he C omptroller G eneral may obtain and duplicate any such books, accounts, documents, records, working papers, auto- mated data and files, or other information rele v ant to such audit without cost to the Comptroller General and the Comp- troller General ’ s right of access to such information shall be enforceable pursuant to section 716( c ) of title 3 1, U nited S tates Code. ‘ ‘( 2 ) REPORT . — The Comptroller General shall submit to the Congress a report of each annual audit conducted under this subsection. The report to the Congress shall set forth the scope of the audit and shall include the statement of assets and liabilities and surplus or deficit, the statement of income and e x penses, the statement of sources and application of funds, and such comments and information as may be deemed nec- essary to inform Congress of the financial operations and condi- tion of the Agency, together with such recommendations with respect thereto as the Comptroller General may deem advisable. A copy of each report shall be furnished to the P resident and to the Agency at the time submitted to the Congress. ‘‘(3) A S S I ST ANC EAN D COSTS.— F or the purpose of conducting an audit under this subsection, the Comptroller General may, in the discretion of the Comptroller General, employ by con- tract, without regard to section 37 09 of the Revised Statutes of the United States ( 4 1 U.S.C. 5 ), professional services of firms and organi z ations of certified public accountants for tem- porary periods or for special purposes. Upon the re q uest of the Comptroller General, the D irector of the Agency shall transfer to the Government Accountability O ffice from funds available, the amount requested by the Comptroller General to cover the full costs of any audit and report conducted by the Comptroller General. The Comptroller General shall credit funds transferred to the account established for salaries and expenses of the Government Accountability Office, and such amount shall be available upon receipt and without fiscal year limitation to cover the full costs of the audit and report.’’. SEC.1 1 07 . R E GULATION SAN D ORDERS. Section 1319G of the Federal H ousing E nterprises Financial Safety and Soundness Act of 1992 (12 U.S.C. 4526) is amended— (1) by striking subsection (a) and inserting the following

‘‘(a) A U T H ORIT Y .—The Director shall issue any regulations, guidelines, or orders necessary to carry out the duties of the Director under this title or the authorizing statutes, and to ensure that the purposes of this title and the authorizing statutes are accom- plished.’’ and (2) by striking subsection (c). SEC. 110 8 . P RUDENTIAL M ANAGEMENT AND OPERATIONS STANDARDS. The Federal Housing Enterprises Financial Safety and Sound- ness Act of 1992 (12 U.S.C. 4501 et seq.) is amended by inserting after section 1313A, as added by this Act, the following new section: Guidel i n e s.

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