PUBLIC LAW 103-204—DEC. 17, 1993 107 STAT. 2373 "(ii) report directly to the chief executive officer of the Corporation; and "(iii) have such authority and duties of chief financial officers of agencies under section 902 of title 31, United States Code, as the Thrift Depositor Protection Oversight Board determines to be appropriate with respect to the Corporation. "(6) BASIC ORDERING AGREEMENTS.— "(A) REVISION OF PROCEDURES.—The Corporation shall revise the procedure for reviewing and qualifying applicants for eligibility for future contracts in a specified service area (commonly referred to as 'basic ordering agreements' or 'task ordering agreements') in such manner as may be necessary to ensure that small businesses, minorities, and women are not inadvertently excluded from eligibility for such contracts. "(B) REVIEW OF USTS.— TO ensure the maximum participation level possible of minority- and women-owned businesses, the Corporation shall— "(i) review all hsts of contractors determined to be eligible for future contracts in a specified service area and other contracting mechanisms; and "(ii) prescribe appropriate regulations and proce- Regulations. dures. "(7) IMPROVEMENT OF CONTRACTING SYSTEMS AND CONTRAC- TOR OVERSIGHT. —The Corporation shall— "(A) maintain such procedures and uniform standards for— "(i) entering into contracts between the Corporation and private contractors; and "(ii) overseeing the performance of contractors and subcontractors under such contracts and compliance by contractors and subcontractors with the terms of contracts and applicable regulations, orders, policies, and guidelines of the Corporation, as may be appropriate in carrying out the Corporation's operations in as efficient and economical a manner as may be practicable; "(B) commit sufficient resources, including personnel, to contract oversight and the enforcement of all laws, regulations, orders, p>olicies, and standards applicable to contracts with the Corporation; and "(C) maintain uniform procurement guidelines for basic goods and administrative services to prevent the acquisition of such goods and services at widely different prices. "(8) AUDIT COMMITTEE.— "(A) ESTABLISHMENT.— The Thrift Depositor Protection Oversight Board shall establish and maintain an audit committee. "(B) DUTIES.—The audit committee shall have the following duties: "(i) Monitor the internal controls of the Corporation. "(ii) Monitor the audit findings and recommendations of the inspector general of the Corporation and the Comptroller General of the United States and the
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