94TH CONGRESS 1ST SESSION

S. 2352

IN THE SENATE OF THE UNITED STATES

SEPTEMBER 17 (legislative day, SEPTEMBER 11), 1975

Mr. METCALF introduced the following bill; which was read twice and referred to the Committee on Government Operations

A BILL

To amend the Accounting and Auditing Act of 1950 to provide for the audit, by the Comptroller General, of the Internal Revenue Service and of the Bureau of Alcohol, Tobacco, and Firearms.

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Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 3 That section 117 of the Accounting and Auditing Act of 4 1950 (31 U.S.C. 67) is amended by adding at the end 5 thereof the following new subsection:

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"(d) (1) The Comptroller General shall make, under 7 such rules and regulations as he shall prescribe, audits of the 8 Internal Revenue Service and the Bureau of Alcohol, 9 Tobacco, and Firearms of the Department of the Treasury:

61-502 O-75-2

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1 Provided, That such audits shall not affect the finality of 2 findings or decisions of the Secretary of the Treasury or his 3 delegate under section 6406 of the Internal Revenue Code. 4 "(2) For purposes of, and to the extent necessary in, 5 making the audits required by paragraph (1) of this sub6 section, representatives of the General Accounting Office“(A) shall, notwithstanding the provisions of sec

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tions 4424 and 6103 of such Code, have access to tax returns and tax return information described in sections 4424 (a) and 6103; and

"(B) shall have access to all other books, accounts, financial records, reports, files, papers, things, and property belonging to or in use by the Internal Revenue Serv

ice or the Bureau of Alcohol, Tobacco, and Firearms: 15 Provided, That no officer or employee of the General Ac16 counting Office shall, except to the extent authorized by sec17 tion 6103 (d) of such Code, divulge or make known in any 18 manner whatever to any person, other than another officer or employee of such office whose official duties or responsi20 bilities require such disclosure, any tax return or tax return 21 information described in section 4424 (a) of such Code in a 22 form which can be associated with or otherwise identify, 23 directly or indirectly, a particular taxpayer: And provided 24 further, That no officer or employee of the General Account25 ing Office shall, except as otherwise expressly provided by

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1 law, divulge or make known in any manner whatever to any 2 person, other than another officer or employee of such office

3 whose official duties or responsibilities require such disclosure,

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any other tax return or tax return information, or any infor5 mation described in clause (B), in a form which can be

6 associated with or otherwise identify, directly or indirectly,

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a particular taxpayer. Any such officer or employee who 8 makes a disclosure in violation of either of the foregoing

9 provisos shall be subject to the penalties provided by law.

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"(3) The Comptroller General shall, as frequently as

may be practicable, make reports to the Congress on the 12 results of audit work performed.".

94TI CONGRESS 1ST SESSION

S. 2418

IN THE SENATE OF THE UNITED STATES

SEPTEMBER 25 (legislative day, SEPTEMBER 11), 1975

Mr. CHILES introduced the following bill; which was read twice and referred to the Committee on Government Operations

A BILL

To amend the Accounting and Auditing Act of 1950 to provide for the audit of certain Federal agencies by the Comptroller General.

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Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 3 That section 117 of the Accounting and Auditing Act of 4 1950 (31 U.S.C. 67) is amended by adding at the end 5 thereof the following new subsection:

6 "(d) (1) The Comptroller General shall make, under 7 such rules and regulations as he shall prescribe, an audit for 8 each fiscal year of the Federal Reserve Board and the Fed9 eral Reserve banks and their branches, the Internal Revenue

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1 Service, the Comptroller of the Currency, and the Office of 2 Alien Property.

3 "(2) In making the audit required by paragraph (1) 4 of this subsection, representatives of the General Account5 ing Office shall have access to all books, accounts, financial 6 records, reports, files, and all other papers, things, or prop7 erty belonging to or in use by the entities being audited, 8 including reports of examinations of member banks of the 9 Federal Reserve System, and they shall be afforded full 10 facilities for verifying transactions with balances or securities 11 held by depositaries, fiscal agents, and custodians of the 12 Federal Reserve Board and the Federal Reserve banks and 13 their branches.

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"(3) The Comptroller General shall, at the end of 15 six months after the end of the year, or as soon thereafter 16 as may be practicable, make a report to the Congress on 17 the results of the audit required by paragraph (1) of this 18 subsection, and he shall make any special or preliminary

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reports he deems desirable for the information of the

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