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091279 1 (1975-04-22)

handle is hein.gao/gaobadxhy0001 and id is 1 raw text is: 

                                                            LM091279



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

                                        For Release on Delivery
                                              Expected at
                                        10 a.m. April 22, 1975


                          STATEMENT OF
    ELMER B. STAATS, COMPTROLLER GENERAL OF THE UNITED STATES
                           BEFORE THE
            SUBCOMMITTEE ON DOMESTIC MONETARY POLICY
                             OF THE
           COMMITTEE ON BANKING, CURRENCY AND HOUSING
                    HOUSE OF REPRESENTATIVES

                               on

H.R. 4316, A' Bill to Authorize and Direct the General Accounting
           Office to Audit the Federal Reserve System



       We appear here today at your request to present our views

  on H.R. 4316 which authorizes and directs the General Accounting

  Office to audit the Federal Reserve Board, the Federal Advisory

  Council, the Federal Open Market Committee, and the Federal

  Reserve banks and their branches.

       This bill is essentially the same bill that was origi-

  nally considered by the House Committee on Banking and

  Currency in 1973. The principal changes are the addition

  of specific references to the Federal Advisory Council,







                             4~~~9§'1/ 7_    _

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