II 

115TH CONGRESS 

2D SESSION S. 2400 

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 

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’’. 

6 SEC. 2. AUDITS MODIFIED. 

7 (a) CONGRESSIONAL AWARD FOUNDATION.—Section 

8 107 of the Congressional Award Act (2 U.S.C. 807) is 

9 amended— 


dlhill on DSK3GLQ082PROD with BILLS
2 

•S 2400 IS

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

2 Comptroller General of the United States’’; and 

3 (2) by striking subsection (c). 

4 (b) PATIENT CENTERED OUTCOMES RESEARCH IN5 STITUTE.—Section 1181(g)(2) of the Social Security Act 

6 (42 U.S.C. 1320e(g)(2)) is amended— 

7 (1) in the paragraph heading, by striking ‘‘AN8 NUAL’’; 

9 (2) in subparagraph (A)— 

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

11 (B) by redesignating clauses (ii) through 

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

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

14 follows: 

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

16 each year in which a review is conducted under 

17 subparagraph (A), the Comptroller General of 

18 the United States shall submit to Congress a 

19 report containing the results of the review, to20 gether with recommendations for such legisla21 tion and administrative action as the Comp22 troller General determines appropriate.’’. 

23 (c) TROUBLED ASSET RELIEF PROGRAM.— 

24 (1) IN GENERAL.—Section 116 of the Emer25 gency Economic Stabilization Act of 2008 (12 


dlhill on DSK3GLQ082PROD with BILLS
3 

•S 2400 IS

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

2 and inserting the following: 

3 ‘‘(b) AUDITS.— 

4 ‘‘(1) ANNUAL AUDIT.—The TARP shall annu5 ally prepare and issue to the appropriate committees 

6 of Congress and the public audited financial state7 ments that shall be— 

8 ‘‘(A) prepared in accordance with generally 

9 accepted accounting principles; 

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

11 manner as the financial statements of covered 

12 executive agency components under sections 

13 3515 and 3521 of title 31, United States Code; 

14 and 

15 ‘‘(C) prepared on the fiscal year basis pre16 scribed under section 1102 of title 31, United 

17 States Code. 

18 ‘‘(2) AUDIT COSTS.— 

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

20 transfer to the Inspector General of the Depart21 ment of the Treasury such sums as are nec22 essary to reimburse the Inspector General for 

23 the full cost of performing an audit required 

24 under paragraph (1) or procuring the audit 

25 from an independent external auditor. 


dlhill on DSK3GLQ082PROD with BILLS
4 

•S 2400 IS

1 ‘‘(B) CREDIT.—The reimbursements de2 scribed in subparagraph (A) shall be credited to 

3 the appropriation account ‘Salaries and ex4 penses, Office of the Inspector General, Depart5 ment of the Treasury’ current when the pay6 ment is received and remain available until ex7 pended. 

8 ‘‘(3) CORRECTIVE RESPONSES TO AUDIT PROB9 LEMS.—The TARP shall— 

10 ‘‘(A) take action to address deficiencies 

11 identified by the auditor of the TARP financial 

12 statements; or 

13 ‘‘(B) certify to the appropriate committees 

14 of Congress that no action is necessary or ap15 propriate.’’. 

16 (2) APPLICATION.—The amendment made by 

17 paragraph (1) shall apply to any audit performed 

18 under section 116(b) of the Emergency Economic 

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

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

21 year beginning on or after October 1, 2018. 

Æ 


dlhill on DSK3GLQ082PROD with BILLS