II 

Calendar No. 396 

115TH CONGRESS 

2D SESSION S. 2400 

[Report No. 115–239] 

To eliminate or modify certain audit mandates of the Government 

Accountability Office. 

IN THE SENATE OF THE UNITED STATES 

FEBRUARY 7, 2018 

Mrs. MCCASKILL (for herself and Mr. JOHNSON) introduced the following bill; 

which was read twice and referred to the Committee on Homeland Security and Governmental Affairs 

MAY 7, 2018 

Reported by Mr. JOHNSON, without amendment 

A BILL 

To eliminate or modify certain audit mandates of the 

Government Accountability Office. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘GAO Audit Mandates 

5 Revision Act of 2018’’. 


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1 SEC. 2. AUDITS MODIFIED. 

2 (a) CONGRESSIONAL AWARD FOUNDATION.—Section 

3 107 of the Congressional Award Act (2 U.S.C. 807) is 

4 amended— 

5 (1) in subsection (b), by striking ‘‘and to the 

6 Comptroller General of the United States’’; and 

7 (2) by striking subsection (c). 

8 (b) PATIENT CENTERED OUTCOMES RESEARCH IN9 STITUTE.—Section 1181(g)(2) of the Social Security Act 

10 (42 U.S.C. 1320e(g)(2)) is amended— 

11 (1) in the paragraph heading, by striking ‘‘AN12 NUAL’’; 

13 (2) in subparagraph (A)— 

14 (A) by striking clause (i); and 

15 (B) by redesignating clauses (ii) through 

16 (v) as clauses (i) through (iv), respectively; and 

17 (3) by amending subparagraph (B) to read as 

18 follows: 

19 ‘‘(II) REPORTS.—Not later than April 1 of 

20 each year in which a review is conducted under 

21 subparagraph (A), the Comptroller General of 

22 the United States shall submit to Congress a 

23 report containing the results of the review, to24 gether with recommendations for such legisla25 tion and administrative action as the Comp26 troller General determines appropriate.’’. 


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1 (c) TROUBLED ASSET RELIEF PROGRAM.— 

2 (1) IN GENERAL.—Section 116 of the Emer3 gency Economic Stabilization Act of 2008 (12 

4 U.S.C. 5226) is amended by striking subsection (b) 

5 and inserting the following: 

6 ‘‘(b) AUDITS.— 

7 ‘‘(1) ANNUAL AUDIT.—The TARP shall annu8 ally prepare and issue to the appropriate committees 

9 of Congress and the public audited financial state10 ments that shall be— 

11 ‘‘(A) prepared in accordance with generally 

12 accepted accounting principles; 

13 ‘‘(B) prepared and audited in the same 

14 manner as the financial statements of covered 

15 executive agency components under sections 

16 3515 and 3521 of title 31, United States Code; 

17 and 

18 ‘‘(C) prepared on the fiscal year basis pre19 scribed under section 1102 of title 31, United 

20 States Code. 

21 ‘‘(2) AUDIT COSTS.— 

22 ‘‘(A) IN GENERAL.—The Secretary shall 

23 transfer to the Inspector General of the Depart24 ment of the Treasury such sums as are nec25 essary to reimburse the Inspector General for 


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1 the full cost of performing an audit required 

2 under paragraph (1) or procuring the audit 

3 from an independent external auditor. 

4 ‘‘(B) CREDIT.—The reimbursements de5 scribed in subparagraph (A) shall be credited to 

6 the appropriation account ‘Salaries and ex7 penses, Office of the Inspector General, Depart8 ment of the Treasury’ current when the pay9 ment is received and remain available until ex10 pended. 

11 ‘‘(3) CORRECTIVE RESPONSES TO AUDIT PROB12 LEMS.—The TARP shall— 

13 ‘‘(A) take action to address deficiencies 

14 identified by the auditor of the TARP financial 

15 statements; or 

16 ‘‘(B) certify to the appropriate committees 

17 of Congress that no action is necessary or ap18 propriate.’’. 

19 (2) APPLICATION.—The amendment made by 

20 paragraph (1) shall apply to any audit performed 

21 under section 116(b) of the Emergency Economic 

22 Stabilization Act of 2008 (12 U.S.C. 5226(b)), as 

23 amended by paragraph (1), with respect to a fiscal 

24 year beginning on or after October 1, 2018. 


amozie on DSK3GDR082PROD with BILLS

amozie on DSK3GDR082PROD with BILLS
Calendar No. 396 

115TH CONGRESS 

2D SESSION S. 2400 

[Report No. 115–239] 

A BILL 

To eliminate or modify certain audit mandates of 

the Government Accountability Office. 

MAY 7, 2018 

Reported without amendment 


amozie on DSK3GDR082PROD with BILLS