Single audit improvements

Section 7504 of title 31, United States Code, is amended—(1)in subsection (a)—(A)in paragraph (1), by striking , and and inserting a semicolon; (B)in paragraph (2), by striking the period at the end and inserting a semicolon; and(C)by adding at the end the following:

(3)participate in and furnish information for the review under subsection (d); and(4)identify, in coordination with the Federal clearinghouse, recipients that expend $300,000 or more in Federal awards or such other amount specified by the Director under section 7502(a)(3) during the recipient's fiscal year but did not undergo an audit in accordance with this chapter.

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(2)in subsection (c)—(A)in paragraph (1), by adding and at the end; (B)by striking paragraph (2); and(C)by redesignating paragraph (3) as paragraph (2); and(3)by adding at the end the following:

(d)Not later than 2 years after the date of enactment of this subsection, and every 2 years thereafter, the Director submit to the Committee on Homeland Security and Governmental Affairs of the Senate and the Committee on Oversight and Accountability of the House of Representatives a report listing the recipients identified under subsection (a) (4).(e)(1)The Director shall designate 1 or more Federal agencies to conduct a Government-wide analysis of single audit quality, which may include a consideration of the results of ongoing reviews of single audit quality by—(A)Federal agencies;(B)State auditors; and(C)independent peer review programs.(2)Not later than 3 years after the date of enactment of this subsection, and every 6 years thereafter, the Federal agencies designated under paragraph (1) shall complete a Government-wide analysis of single audit quality, which shall include the views of non-Federal entities regarding single audit quality.(3)The Director shall submit to the Committee on Homeland Security and Governmental Affairs of the Senate and the Committee on Oversight and Accountability of the House of Representatives and make publicly available the results of each review under paragraph (2).(f)Not later than 2 years after the date of enactment of this subsection—(1)the Administrator of General Services, in coordination with the Director, the Council on Federal Financial Assistance (or any successor thereto), and key management single audit liaisons of Federal agencies designated as described in section 200.513 of title 2, Code of Federal Regulations (or any successor thereto), shall develop analytic tools to use audit data in the Federal clearinghouse to identify cross-Governmental risks to Federal award funds; and(2)the Director, in coordination with the Administrator of General Services, the Council on Federal Financial Assistance (or any successor thereto), and key management single audit liaisons of Federal agencies designated as described in section 200.513 of title 2, Code of Federal Regulations (or any successor thereto), shall develop a strategy to use audit data in the Federal clearinghouse to identify cross-Governmental risks to Federal award funds.(g)Not later than 4 years after the date of enactment of this subsection, the Comptroller General of the United States shall complete an evaluation of—(1)the effectiveness of the strategy and analytic tools developed under subsection (f);(2)reporting burdens for auditors and audited entities and the capacity of auditors and audited entities to fulfill the requirements under this chapter; and(3)the responsiveness of Federal agencies to repeat single audit findings and corrective action plans.