S.Amdt. 2354

This amendment, submitted by Mr. Paul, is called the Audit Reform and Transparency for the Board of Governors of the Federal Reserve System. Its purpose is to require a full audit and hold officials accountable by reporting back to the people's representatives in Congress.

Here is what the amendment aims to do:

• Require the Comptroller General of the United States to complete an audit of the Board of Governors of the Federal Reserve System and the Federal reserve banks within 12 months of the Act being enacted.
• Require a report on the audit to be submitted to Congress and made available to specific congressional leaders and any requesting Member of Congress within 90 days of the audit's completion.
• Include detailed findings, conclusions, and recommendations for legislative or administrative action in the report.
• Repeal certain limitations and make technical and conforming amendments related to the audit process.