31 U.S.C. § 3357: Financial and administrative controls relating to fraud and improper payments

In this section, the term “agency” has the meaning given the term in section 551 of title 5 . shall continue to be in effect on and after the date of enactment of this section; and may be periodically modified by the Director of the Office of Management and Budget, in consultation with the Comptroller General of the United States, as the Director and Comptroller General may determine necessary. conducting an evaluation of fraud risks and using a risk-based approach to design and implement financial and administrative control activities to mitigate identified fraud risks; collecting and analyzing data from reporting mechanisms on detected fraud to monitor fraud trends and using that data and information to continuously improve fraud prevention controls; and using the results of monitoring, evaluation, audits, and investigations to improve fraud prevention, detection, and response. the financial and administrative controls described in subsection (b); the fraud risk principle in the Standards for Internal Control in the Federal Government published by the Government Accountability Office (commonly known as the “Green Book”); and Office of Management and Budget Circular A–123, or any successor thereto, with respect to the leading practices for managing fraud risk; identifying risks and vulnerabilities to fraud, including with respect to payroll, beneficiary payments, grants, large contracts, and purchase and travel cards; and establishing strategies, procedures, and other steps to curb fraud.