For Immediate Release
Office of the Press Secretary
November 7, 2002

Statement by the President

Today I have signed into law H.R. 4685, a bill to amend title 31, United States Code, to expand the types of Federal agencies that are required to prepare audited financial statements.

The executive branch shall construe the terms "agency," "executive agency," and "covered executive agency" as used in the legislation in a manner consistent with the separation of powers principles recognized by the U.S. Supreme Court in 1992 in Franklin v. Massachusetts; the principle of construction relating to section 552 of title 5 set forth by the U.S. Court of Appeals for the District of Columbia Circuit in 1993 in Meyer v. Bush; and the principle of construction relating to section 112 of title 3 set forth by the U.S. Court of Appeals for the District of Columbia Circuit in 1995 in Haddon v. Walters.

GEORGE W. BUSH
THE WHITE HOUSE,
November 7, 2002.

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