,,ii  #aahth ,,congress  #b;d ,session  
,s4 #dgaf  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,july #aa      
7legislative day1 ,july #aj71 #bjbd,mr4 
,peters 7for himself 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  
amend section #gejd of title #ca1       
,united ,states ,code1 to improve the   
single audit requirements4  #a4 ,short  
title ,this ,act may be cited as the    
,financial ,management ,risk ,reduction 
,act4  #b4 ,single audit improvements   
,section #gejd of title #ca1 ,united    
,states ,code1 is amended-- 7#a7 in     
subsection 7a7-- 7,a7 in paragraph 7#a71
 by striking 1 and and inserting a      
semicolon2  7,b7 in paragraph 7#b71 by  
striking the period at the end and      
inserting a semicolon2 and  7,c7 by     
adding at the end the following3  7#c7  
participate in and furnish information  
for the review under subsection 7d72 and

  7#d7 identify1 in coordination with   
the ,federal clearinghouse1 recipients  
that expend #cjj1jjj or more in ,federal
 awards or such other amount specified  
by the ,director under section          
#gejb7;a77#c7 during the recipient's    
fiscal year but did not undergo an audit
 in accordance with this chapter4  2    
7#b7 in subsection 7c7-- 7,a7 in        
paragraph 7#a71 by adding and at the    
end2  7,b7 by striking paragraph 7#b72  
and  7,c7 by redesignating paragraph    
7#c7 as paragraph 7#b72 and  7#c7 by    
adding at the end the following3  7d7   
,not later than #b years after the date 
of enactment of this subsection1 and    
every #b years thereafter1 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 7a7 7#d74  7e7 7#a7 ,the     
,director shall designate #a or more    

,federal agencies to conduct a          
,government-wide analysis of single     
audit quality1 which may include a      
consideration of the results of ongoing 
reviews of single audit quality by--    
7,a7 ,federal agencies2  7,b7 ,state    
auditors2 and  7,c7 independent peer    
review programs4  7#b7 ,not later than  
#c years after the date of enactment of 
this subsection1 and every #f years     
thereafter1 the ,federal agencies       
designated under paragraph 7#a7 shall   
complete a ,government-wide analysis of 
single audit quality1 which shall       
include the views of non-,federal       
entities regarding single audit quality4
  7#c7 ,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 7#b74  7f7 ,not later   
than #b years after the date of         

enactment of this subsection-- 7#a7 the 
,administrator of ,general ,services1 in
 coordination with the ,director1 the   
,council on ,federal ,financial         
,assistance 7or any successor thereto71 
and key management single audit liaisons
 of ,federal agencies designated as     
described in section #bjj4eac of title  
#b1 ,code of ,federal ,regulations 7or  
any successor thereto71 shall develop   
analytic tools to use audit data in the 
,federal clearinghouse to identify      
cross-,governmental risks to ,federal   
award funds2 and  7#b7 the ,director1 in
 coordination with the ,administrator of
 ,general ,services1 the ,council on    
,federal ,financial ,assistance 7or any 
successor thereto71 and key management  
single audit liaisons of ,federal       
agencies designated as described in     
section #bjj4eac of title #b1 ,code of  
,federal ,regulations 7or any successor 
thereto71 shall develop a strategy to   
use audit data in the ,federal          
clearinghouse to identify               

cross-,governmental risks to ,federal   
award funds4  7g7 ,not later than #d    
years after the date of enactment of    
this subsection1 the ,comptroller       
,general of the ,united ,states shall   
complete an evaluation of-- 7#a7 the    
effectiveness of the strategy and       
analytic tools developed under          
subsection 7f72  7#b7 reporting burdens 
for auditors and audited entities and   
the capacity of auditors and audited    
entities to fulfill the requirements    
under this chapter2 and  7#c7 the       
responsiveness of ,federal agencies to  
repeat single audit findings and        
corrective action plans4  4