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126249 1 (1985-02-20)

handle is hein.gao/gaobactjt0001 and id is 1 raw text is: 






             UNITED STATES GENERAL ACCOUNTING OFFICE
                     WASHINGTON, D.C. 20548

                                        FOR RELEASE ON DELIVERY
                                        EXPECTED AT 10 A.M.
                                        FEBRUARY 20, 1985



                          STATEMENT OF

                   FREDERICK D. WOLF, DIRECTOR

          ACCOUNTING AND FINANCIAL MANAGEMENT DIVISION

                           BEFORE THE

          SUBCOMMITTEE ON OVERSIGHT AND INVESTIGATIONS

                             OF THE

             HOUSE COMMITTEE ON ENERGY AND COMMERCE

                             ON THE

              FEDERAL ROLE IN SETTING AND ENFORCING

              ACCOUNTING AND AUDITING STANDARDS WHICH

                    AFFECT THE PRIVATE SECTOR



Mr. Chairman and Members of the Subcommittee:

     We are pleased to be here today to discuss the information

which we have obtained at your request on federal entities which

set accounting and auditing standards affecting publicly held

companies.  This is the first part of a two-part request made by

your Subcommittee.  I will also address our planned work on the

second part of the request which relates to business practices

in certain foreiqn countries.

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