12 U.S.C. § 5496a
Section 5496a · Annual audits
Amended 1 time on record
Applied in 1 court decisions — leading case Consumer Financial Protection Bureau v. Future Income Payments, LLC (2017)
Most recently applied in Consumer Financial Protection Bureau v. Future Income Payments, LLC (May 2017)
The Bureau shall order an annual independent audit of the operations and budget of the Bureau.
The Comptroller General of the United States shall conduct an annual audit of the Bureau's financial statements in accordance with generally accepted government accounting standards.
Editorial notes U.S. Code · Office of the Law Revision Counsel
Initial Audits
Pub. L. 112–10, div. B, title V, §1573(c), Apr. 15, 2011, 125 Stat. 139, provided that: “The initial audits described under section 1016A of the Consumer Financial Protection Act of 2010 [12 U.S.C. 5496a] shall be completed not later than the end of the 180-day period beginning on the date of the enactment of this Act [Apr. 15, 2011].”