[Federal Register Volume 66, Number 98 (Monday, May 21, 2001)]
[Proposed Rules]
[Page 27912]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-12128]


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DEPARTMENT OF AGRICULTURE

Rural Utilities Service

7 CFR Parts 1773

RIN 0572-AB62


Policy on Audits of RUS Borrowers; Generally Accepted Government 
Auditing Standards (GAGAS)

AGENCY: Rural Utilities Service, USDA.

ACTION: Proposed rule.

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SUMMARY: The Rural Utilities Service (RUS) is proposing to amend its 
regulations to include in its audit requirements for electric and 
telecommunications borrowers recent amendments to the Generally 
Accepted Government Auditing Standards (GAGAS) issued by the Government 
Accounting Office (GAO) and to make other minor changes and 
corrections.
    In the final rule section of this Federal Register, RUS is 
publishing this action as a direct final rule without prior proposal 
because RUS views this as a non-controversial action and anticipates no 
adverse comments. If no adverse comments are received in response to 
the direct final rule, no further action will be taken on this proposed 
rule and the action will become effective at the time specified in the 
direct final rule. If RUS receives adverse comments, a timely document 
will be published withdrawing the direct final rule and all public 
comments received will be addressed in a subsequent final rule based on 
this action. Any parties interested in commenting on this proposed 
action should do so at this time.

DATES: Comments on this proposed action must be received on or before 
June 20, 2001.

ADDRESSES: Submit adverse comments or notice of intent to submit 
adverse comments to F. Lamont Heppe, Jr., Director, Program Development 
and Regulatory Analysis, Staff, Rural Utilities Service, U.S. 
Department of Agriculture, 1400 Independence Ave., SW., STOP 1522, 
Washington, DC 20250-1522. RUS requests a signed original and three 
copies of all comments (7 CFR 1700.4). All comments received will be 
made available for public inspection at room 4030, South Building, 
Washington, DC, between the 8 a.m. and 4 p.m. (7 CFR part 1.27(b)).

FOR FURTHER INFORMATION CONTACT: Richard Annan, Chief, Technical 
Accounting and Auditing Staff, Program Accounting Services Division, 
Rural Utilities Service, U.S. Department of Agriculture, 1400 
Independence Ave., SW., STOP 1523, Washington, DC 20250-1523. 
Telephone: 202-720-5227.

SUPPLEMENTARY INFORMATION: See the Supplementary Information provided 
in the direct final rule located in the final rule section of this 
Federal Register for the applicable supplementary information on this 
action.

    Dated: May 8, 2001.
Blaine D. Stockton,
Acting Administrator, Rural Utilities Service.
[FR Doc. 01-12128 Filed 5-18-01; 8:45 am]
BILLING CODE 3410-15-P