New Audit Announcements
Announcement—Risk Assessment of DOT’s Grant Closeout Process Initiated Mandated by the Grants Oversight and New Efficiency Act of 2016
Signed into law in January 2016, the Grants Oversight and New Efficiency (GONE) Act requires Federal agencies report to Congress and the Department of Health and Human Services on open grant and cooperative agreement awards whose periods of performance have been expired for over 2 years and take appropriate action to close them. The act also requires that the Inspector General of each Federal agency with over $500 million in annual grant funding, such as the Department of Transportation, to conduct a risk assessment to determine whether an audit or review of the agency’s grant close-out process is warranted. Accordingly, we are initiating a risk assessment to determine whether DOT’s grant closeout process requires an audit or review.