NeighborWorks Accountability Act

The NeighborWorks Accountability Act would create an independent Office of Inspector General (OIG) for the Neighborhood Reinvestment Corporation (NR) and authorize funding for that OIG. The bill places the NR’s OIG within the framework of the federal Inspector General system by adding the NR to the list of agencies with an OIG. It also requires annual external audits of the NR’s accounts by independent certified public accountants (CPAs) following generally accepted auditing standards. Importantly, the bill keeps NR’s program operations separate from the OIG, prohibiting the transfer of responsibility for organizational assessments or grantee oversight to the OIG. The goal is to enhance accountability, transparency, and integrity in NR operations and its use of federal funds and grants.