[Code of Federal Regulations]
[Title 38, Volume 2]
[Revised as of July 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 38CFR41.19]

[Page 738]
 
            TITLE 38--PENSIONS, BONUSES, AND VETERANS' RELIEF
 
          CHAPTER I--DEPARTMENT OF VETERANS AFFAIRS (CONTINUED)
 
PART 41--AUDITING REQUIREMENTS--Table of Contents
 
Sec. 41.19  Small and minority audit firms.

    Small audit firms and audit firms owned and controlled by socially 
and economically disadvantaged individuals shall have the maximum 
practicable opportunity to participate in contracts awarded to fulfill 
the requirements of these regulations. Recipients of Federal assistance 
shall take the following steps to further this goal:
    (a) Assure that small audit firms and audit firms owned and 
controlled by socially and economically disadvantaged individuals are 
used to the fullest extent practicable.
    (b) Make information on forthcoming opportunities available and 
arrange timeframes for the audit so as to encourage and facilitate 
participation by small audit firms and audit firms owned and controlled 
by socially and economically disadvantaged individuals.
    (c) Consider in the contract process whether firms competing for 
larger audits intend to subcontract with small audit firms and audit 
firms owned and controlled by socially and economically disadvantaged 
individuals.
    (d) Encourage contracting with small audit firms or audit firms 
owned and controlled by socially and economically disadvantaged 
individuals which have traditionally audited government programs and, in 
such cases where this is not possible, assure that these firms are given 
consideration for audit subcontracting opportunities.
    (e) Encourage contracting with consortiums of small audit firms as 
described in paragraph (a) of this section when a contract is too large 
for an individual small audit firm or audit firm owned and controlled by 
socially and economically disadvantaged individuals.
    (f) Use the services and assistance, as appropriate, of such 
organizations as the Small Business Administration in the solicitation 
and utilization of small audit firms or audit firms owned and controlled 
by socially and economically disadvantaged individuals.

(Authority: Pub. L. 98-502)