Taxpayer Funds Oversight and Accountability Act

This bill requires the Office of Management and Budget to create a four-year plan for improving how the federal government manages its money and financial systems. The plan must be submitted to Congress within six months and updated every time a new president takes office. The bill also gives Chief Financial Officers at federal agencies new responsibilities, including overseeing budgets, managing financial systems, and preparing annual reports on their progress. Additionally, the bill creates new requirements for audits of agency accounts to better evaluate internal financial controls.

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