,i  #aacth ,,congress  #ast ,session    
,h4 ,r4 #cc  ,,in ,,the ,,house ,,of    
,,representatives  ,january #c1 #bjac   
,mr4 ,stockman 7for himself and ,mr4    
,broun of ,georgia7 introduced the      
following bill2 which was referred to   
the ,committee on ,oversight and        
,government ,reform  ,a ,,bill  ,to     
amend title #ca1 ,united ,states ,code1 
to reform the manner in which the ,board
 of ,governors of the ,federal ,reserve 
,system is audited by the ,comptroller  
,general of the ,united ,states and the 
manner in which such audits are         
reported1 and for other purposes4  #a4  
,short title ,this ,act may be cited as 
the ,audit ,the ,fed ,act of #bjac4  #b4
 ,audit reform and transparency for the 
,board of ,governors of the ,federal    
,reserve ,system  7a7 ,in general       
,subsection 7b7 of section #gad of title
 #ca1 ,united ,states ,code1 is amended 
by striking all after shall audit an    
agency and inserting a period4  7b7     
,audit ,section #gad of title #ca1      

,united ,states ,code1 is amended by    
adding at the end the following new     
subsection3  7e7 ,audit and report of   
the ,federal ,reserve ,system  7#a7 ,in 
general ,the audit of the ,board of     
,governors of the ,federal ,reserve     
,system and the ,federal reserve banks  
under subsection 7b7 shall be completed 
before the end of #bjad4  7#b7 ,report  
7,a7 ,required ,a report on the audit   
referred to in paragraph 7#a7 shall be  
submitted by the ,comptroller ,general  
to the ,congress before the end of the  
#ij-;day period beginning on the date on
 which such audit is completed and made 
available to the ,speaker of the ,house1
 the majority and minority leaders of   
the ,house of ,representatives1 the     
majority and minority leaders of the    
,senate1 the ,chairman and ,ranking     
,member of the committee and each       
subcommittee of jurisdiction in the     
,house of ,representatives and the      
,senate1 and any other ,member of       
,congress who requests it4  7,b7        

,contents ,the report under subparagraph
 7,a7 shall include a detailed          
description of the findings and         
conclusion of the ,comptroller ,general 
with respect to the audit that is the   
subject of the report1 together with    
such recommendations for legislative or 
administrative action as the            
,comptroller ,general may determine to  
be appropriate4  4