,,ii  #aaeth ,,congress  #b;d ,session  
,s4 #bdjj  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,february #g1  
#bjah ,mrs4 ,mc,caskill 7for herself and
 ,mr4 ,johnson7 introduced the following
 bill2 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 ,office4  #a4 ,short    
title  ,this ,act may be cited as the   
,,gao ,audit ,mandates ,revision ,act of
 #bjah4  #b4 ,audits modified  7a7      
,congressional award foundation ,section
 #ajg of the ,congressional ,award ,act 
7#b ,u4,s4,c4 #hjg7 is amended-- 7#a7 in
 subsection 7b71 by striking and to the 
,comptroller ,general of the ,united    
,states2 and  7#b7 by striking          
subsection 7c74  7b7 ,patient centered  
outcomes research institute ,section    
#aaha7;g77#b7 of the ,social ,security  
,act 7#db ,u4,s4,c4 #acbj;e7g77#b77 is  
amended--  7#a7 in the paragraph        

heading1 by striking annual2  7#b7 in   
subparagraph 7,a7--  7,a7 by striking   
clause 7i72 and  7,b7 by redesignating  
clauses 7ii7 through 7v7 as clauses 7i7 
through 7iv71 respectively2 and  7#c7 by
 amending subparagraph 7,b7 to read as  
follows3  7,,ii7 ,reports ,not later    
than ,april #a of each year in which a  
review is conducted under subparagraph  
7,a71 the ,comptroller ,general of the  
,united ,states shall submit to         
,congress a report containing the       
results of the review1 together with    
recommendations for such legislation and
 administrative action as the           
,comptroller ,general determines        
appropriate4  4  7c7 ,troubled asset    
relief program  7#a7 ,in general        
,section #aaf of the ,emergency         
,economic ,stabilization ,act of #bjjh  
7#ab ,u4,s4,c4 #ebbf7 is amended by     
striking subsection 7b7 and inserting   
the following3  7b7 ,audits  7#a7       
,annual audit ,the ,,tarp shall annually
 prepare and issue to the appropriate   

committees of ,congress and the public  
audited financial statements that shall 
be--  7,a7 prepared in accordance with  
generally accepted accounting           
principles2  7,b7 prepared and audited  
in the same manner as the financial     
statements of covered executive agency  
components under sections #ceae and     
#ceba of title #ca1 ,united ,states     
,code2 and  7,c7 prepared on the fiscal 
year basis prescribed under section     
#aajb of title #ca1 ,united ,states     
,code4  7#b7 ,audit costs  7,a7 ,in     
general ,the ,secretary shall transfer  
to the ,inspector ,general of the       
,department of the ,treasury such sums  
as are necessary to reimburse the       
,inspector ,general for the full cost of
 performing an audit required under     
paragraph 7#a7 or procuring the audit   
from an independent external auditor4   
7,b7 ,credit ,the reimbursements        
described in subparagraph 7,a7 shall be 
credited to the appropriation account   
,salaries and expenses1 ,office of the  

,inspector ,general1 ,department of the 
,treasury current when the payment is   
received and remain available until     
expended4  7#c7 ,corrective responses to
 audit problems ,the ,,tarp shall--     
7,a7 take action to address deficiencies
 identified by the auditor of the ,,tarp
 financial statements2 or  7,b7 certify 
to the appropriate committees of        
,congress that no action is necessary or
 appropriate4  4  7#b7 ,application ,the
 amendment made by paragraph 7#a7 shall 
apply to any audit performed under      
section #aaf7;b7 of the ,emergency      
,economic ,stabilization ,act of #bjjh  
7#ab ,u4,s4,c4 #ebbf7;b771 as amended by
 paragraph 7#a71 with respect to a      
fiscal year beginning on or after       
,october #a1 #bjah4