Government Audit Reforms: Streamlining Oversight and Reporting Requirements
This act modifies the rules for certain audits conducted by the Government Accountability Office (GAO) and other agencies. The goal is to simplify and adjust reporting requirements, potentially affecting how public spending and the operations of financial and health institutions are overseen. For citizens, this could mean more focused and efficient oversight, albeit with less frequency in some areas.
Key points
Less frequent audits for the Export-Import Bank and the Highway Trust Fund, potentially reducing administrative burdens.
Changes to audits of the Patient-Centered Outcomes Research Institute, the Bureau of Consumer Financial Protection, and the Federal Housing Finance Agency, shifting financial audit responsibility to independent external auditors.
Elimination of certain reporting and audit requirements for entities like the U.S. Capitol Preservation Commission and the Senate Preservation Fund, simplifying their operations.
Expired
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