
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 22USC283j-1]

 
               TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
 
           CHAPTER 7--INTERNATIONAL BUREAUS, CONGRESSES, ETC.
 
             SUBCHAPTER XII--INTER-AMERICAN DEVELOPMENT BANK
 
Sec. 283j-1. Audit


(a) Establishment

    The Secretary of the Treasury shall instruct the United States 
Executive Director to propose the establishment by the Board of 
Executive Directors of a program of selective but continuing independent 
and comprehensive audit of the Inter-American Development Bank, in 
accordance with such terms of reference as the Board of Executive 
Directors itself (or through a subcommittee), may prescribe. Such 
proposal shall provide that the audit reports be submitted to the Board 
of Executive Directors and to the Board of Governors.

(b) Scope and standards

    The Secretary of the Treasury shall prepare the scope of the audit 
and the auditing and reporting standards for the use of the United 
States Executive Director in assisting in the formulation of the terms 
of reference.

(c) Reports

    The reports of the National Advisory Council on International 
Monetary and Financial Policies to the Congress shall include, among 
other things, an appraisal of the effectiveness of the implementation 
and administration of the loans made by the Bank based upon the audit 
reports. The Comptroller General may review the reports of audit and 
findings issued and report to the Secretary of the Treasury and the 
Congress any suggestions he might have in improving the scope of the 
audit or auditing and reporting standards of the independent auditing 
firm, group, or staff.

(Pub. L. 86-147, Sec. 14, as added Pub. L. 90-88, Sec. 1, Sept. 22, 
1967, 81 Stat. 227; amended Pub. L. 104-316, title I, Sec. 111(b), Oct. 
19, 1996, 110 Stat. 3833.)


                               Amendments

    1996--Subsec. (b). Pub. L. 104-316 substituted ``Secretary of the 
Treasury shall prepare'' for ``Comptroller General of the United States 
shall prepare for the Secretary of the Treasury''.
    Subsec. (c). Pub. L. 104-316 substituted ``may review'' for ``shall 
periodically review'' in second sentence.
