Search Results: keywords:"single audit"

  • S. 4716 — To amend section 7504 of title 31, United States Code, to improve the single audit requirements.
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    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 — An Act To amend section 7504 of title 31, United States Code, to improve the single audit requirements.
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    Status:Engrossed in Senate
    Words:908

    S. 4716, also known as the “Financial Management Risk Reduction Act,” aims to improve single audit requirements by amending section 7504 of title 31, United States Code. The bill mandates the Director of a federal agency to submit reports every two years, listing entities...

    Simple Explanation

    The Financial Management Risk Reduction Act aims to make sure that when big amounts of money are given by the government, they are checked properly without spending more money on these checks, but it might make it tricky for the government to do this without extra help.