Bill Overview
Title: GAO Audit Mandates Revision Act of 2022
Description: This bill eliminates or modifies certain mandates of the Government Accountability Office (GAO). The bill's changes include repealing a requirement for periodic GAO audits of the loan and guarantee transactions of the Export-Import Bank, and repealing a requirement for the GAO to conduct financial audits at least annually of the Patient-Centered Outcomes Research Institute.
Sponsors: Rep. Brown, Shontel M. [D-OH-11]
Target Audience
Population: People impacted by GAO audit changes in specific sectors
Estimated Size: 7000000
- The bill impacts organizations and agencies that were subject to GAO audits, such as the Export-Import Bank and the Patient-Centered Outcomes Research Institute.
- The direct impact is largely on the operations of the GAO and these organizations, in terms of reduced oversight obligations and compliance documentation.
- Indirectly, stakeholders such as financial institutions, policy makers, and the research community could feel changes in transparency and accountability.
- The global impact is minor, as these organizations primarily operate in the U.S., and the audits themselves influence mainly U.S. oversight processes.
- The changes might indirectly affect sectors tied to export-import finance and health research, which have international links.
Reasoning
- The primary stakeholders affected are employees and affiliates of the Export-Import Bank and the Patient-Centered Outcomes Research Institute, besides GAO.
- Most people in the U.S. will experience no direct change in wellbeing, as they are not connected to these organizations.
- Wellbeing changes may occur indirectly or directly for professionals in the research, export/import finance, and auditing domains.
- Given the small direct financial impact, the policy mostly affects organizational transparency and accountability rather than immediate economic factors.
- The number of individuals perceiving a change in wellbeing from these adjustments will be low, focusing around 2% impact punctuality on key stakeholders and affiliates.
Simulated Interviews
Government Auditor (Washington, D.C.)
Age: 45 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 10.0 years
Commonness: 15/20
Statement of Opinion:
- The easing of audit requirements will allow us to redirect resources to other pressing oversight projects.
- However, I do worry about the potential decrease in transparency in the sectors affected.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 7 |
| Year 2 | 6 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 7 | 7 |
| Year 10 | 7 | 7 |
| Year 20 | 7 | 7 |
Economist (New York, NY)
Age: 34 | Gender: female
Wellbeing Before Policy: 8
Duration of Impact: 5.0 years
Commonness: 12/20
Statement of Opinion:
- Reducing audit frequency may lead to decreased oversight in export finance, impacting economic stability in this sector in the long run.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 7 | 8 |
| Year 3 | 7 | 8 |
| Year 5 | 8 | 8 |
| Year 10 | 8 | 8 |
| Year 20 | 8 | 8 |
Healthcare Researcher (San Francisco, CA)
Age: 28 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 10/20
Statement of Opinion:
- The removal of annual audits on the research institute might allow more freedom and less bureaucratic delay, potentially enhancing productivity.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 8 | 6 |
| Year 20 | 9 | 6 |
Export-Import Bank Employee (Dallas, TX)
Age: 50 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 20.0 years
Commonness: 8/20
Statement of Opinion:
- The repeal of periodic audits may initially reduce workload.
- It can lead to less scrutiny from outside, which might allow internal efficiencies to innovate.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 6 | 5 |
| Year 3 | 6 | 5 |
| Year 5 | 7 | 5 |
| Year 10 | 8 | 5 |
| Year 20 | 8 | 5 |
Senior Citizen, Not Directly Involved (Atlanta, GA)
Age: 60 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 0.0 years
Commonness: 20/20
Statement of Opinion:
- I don't think these changes will affect me directly, but I prefer strict auditing to ensure accountability.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 6 |
| Year 3 | 6 | 6 |
| Year 5 | 6 | 6 |
| Year 10 | 6 | 6 |
| Year 20 | 6 | 6 |
Financial Analyst (Los Angeles, CA)
Age: 40 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 10/20
Statement of Opinion:
- Fewer audits could mean less reliable reporting, but improvements in operational agility might make up for it in the long term.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 8 | 7 |
| Year 10 | 8 | 7 |
| Year 20 | 8 | 7 |
Retired Healthcare Professional (Chicago, IL)
Age: 52 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 5.0 years
Commonness: 17/20
Statement of Opinion:
- Withdrawing audit mandates may decrease the standards of accountability, which could have broader implications for healthcare practices.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 5 |
| Year 2 | 5 | 5 |
| Year 3 | 5 | 5 |
| Year 5 | 5 | 5 |
| Year 10 | 5 | 5 |
| Year 20 | 5 | 5 |
Export Business Owner (Miami, FL)
Age: 38 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 10.0 years
Commonness: 10/20
Statement of Opinion:
- Any policy adjustment regarding the Export-Import Bank's oversight could complicate or simplify business transactions, depending on the follow-through.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 8 | 7 |
| Year 10 | 8 | 7 |
| Year 20 | 8 | 7 |
Graduate Student (Boston, MA)
Age: 24 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 0.0 years
Commonness: 18/20
Statement of Opinion:
- This policy provides an interesting case study but doesn't affect my wellbeing directly.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 7 | 7 |
| Year 10 | 7 | 7 |
| Year 20 | 7 | 7 |
Software Developer (Denver, CO)
Age: 29 | Gender: male
Wellbeing Before Policy: 8
Duration of Impact: 20.0 years
Commonness: 9/20
Statement of Opinion:
- I foresee increased demand for compliance automation as a result of looser audit demands.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 9 | 8 |
| Year 2 | 9 | 8 |
| Year 3 | 9 | 8 |
| Year 5 | 10 | 8 |
| Year 10 | 10 | 8 |
| Year 20 | 10 | 8 |
Cost Estimates
Year 1: $-3000000 (Low: $-2500000, High: $-3500000)
Year 2: $-3000000 (Low: $-2500000, High: $-3500000)
Year 3: $-3000000 (Low: $-2500000, High: $-3500000)
Year 5: $-3000000 (Low: $-2500000, High: $-3500000)
Year 10: $-3000000 (Low: $-2500000, High: $-3500000)
Year 100: $-3000000 (Low: $-2500000, High: $-3500000)
Key Considerations
- GAO can reallocate resources to more critical audits.
- Limited effect on overall transparency given the modest scale of audits being repealed.
- Possible concerns from stakeholders about reduced oversight.