§283j–1 Audit

Summary

The Secretary of the Treasury must direct the U.S. Executive Director to ask the Board of Executive Directors to set up a program of selective, ongoing independent audits that fully review the Inter-American Development Bank. The audit plan must call for the audit reports to be sent to the Board of Executive Directors and the Board of Governors. The Secretary must also write what the audit should cover and the auditing and reporting rules so the U.S. Executive Director can use them when creating the audit instructions. Reports from the National Advisory Council on International Monetary and Financial Policies to Congress must include an evaluation of how well the Bank’s loans were carried out and managed, based on those audit reports. The Comptroller General may review the audit reports and give the Secretary and Congress suggestions to improve the audit’s scope or the auditing and reporting rules.