NeighborWorks Accountability Act

The NeighborWorks Accountability Act establishes an Inspector General for the Neighborhood Reinvestment Corporation, aiming to enhance oversight and accountability of the organization's operations. This new office will be authorized to receive necessary appropriations to effectively carry out its responsibilities. Crucially, the bill clarifies that the Inspector General's office will not take over the corporation's program operating responsibilities, such as organizational assessments or grantee oversight functions. Additionally, it mandates that the corporation's accounts undergo annual independent external audits by certified public accountants, providing a separate layer of financial scrutiny beyond the Inspector General's work.