The American Institute of CPAs is throwing its support behind legislation that would require the Comptroller General of the U.S. to provide a presentation before a joint session of Congress of the audited financial statements of the executive branch of the federal government.
The bill was introduced in July by Rep. Jim Renacci, R-Ohio, who is a CPA.
“We believe requiring the Comptroller General to make an annual presentation before a joint session of Congress will be very useful in helping these key policymakers focus in on some of the most important aspects of the financial statements, including financial and sustainability measures, and understand the findings of the audit,” said AICPA president and CEO Barry C. Melancon, in a letter Tuesday. “The requirements outlined in this Concurrent Resolution also represent another critical step in moving our Federal government forward, particularly as it relates to financial accountability and transparency, and will allow for improved decision making around government spending and stewardship of our nation’s assets.”
The Comptroller General heads the Government Accountability Office, which regularly audits and reports on various agencies in the executive branch, including the Internal Revenue Service. GAO officials frequently testify before congressional committees about their reports during hearings, but the legislation would require an overall audit of the executive branch to be presented before Congress as a whole.
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