Search Results: keywords:"financial management risk reduction act"

  • S. 4716 — An Act To amend section 7504 of title 31, United States Code, to improve the single audit requirements.
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    Status:Enrolled Bill
    Words:885

    S. 4716, titled the “Financial Management Risk Reduction Act,” aims to improve the single audit requirements under section 7504 of title 31 of the United States Code. The bill requires entities that spend $300,000 or more in federal awards to undergo audits and mandates...

    Simple Explanation

    S. 4716 is a plan to check if people using a lot of government money are doing it right by making them get checks called audits. It tries to be careful with money without adding extra new money to pay for these checks.

  • H. R. 10155 — To amend section 7504 of title 31, United States Code, to improve the single audit requirements.
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    Status:Introduced in House
    Words:922

    H.R. 10155, titled the “Financial Management Risk Reduction Act,” seeks to amend section 7504 of title 31, United States Code, to enhance single audit requirements for organizations handling federal funds. The bill adds provisions for monitoring audit compliance, mandating...

    Simple Explanation

    The "Financial Management Risk Reduction Act" is like a rule that makes sure everyone who uses a lot of money from the government gets checked to see if they're doing everything right. But they have to do this with the same money they already have, so it might be a little tricky.

  • S. 4716 — To amend section 7504 of title 31, United States Code, to improve the single audit requirements.
    💰
    Status:Introduced in Senate
    Words:917

    S. 4716, titled the “Financial Management Risk Reduction Act," aims to enhance single audit requirements by amending section 7504 of title 31, United States Code. The bill requires the identification of entities that receive significant federal funding but have not undergone audits. It...

    Simple Explanation

    The Financial Management Risk Reduction Act is a new rule that wants to make sure that people or groups getting lots of money from the government are checked on to ensure they're using it correctly. The rule also wants to find new ways to check that everything is okay and see if these new ways actually help after a few years.

  • S. 4716 — To amend section 7504 of title 31, United States Code, to improve the single audit requirements.
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    Status:Reported to Senate
    Words:1,831

    S. 4716, also known as the "Financial Management Risk Reduction Act," aims to strengthen the single audit requirements under section 7504 of title 31, United States Code. It mandates the identification and reporting of recipients who spend at least $300,000 in federal awards...

    Simple Explanation

    The Financial Management Risk Reduction Act is a plan to make sure that people or groups who use a lot of government money—$300,000 or more—have their spending checked more carefully. It hopes to do this without extra money, by using what they already have.