PRAC Issues its Strategic Plan for 2020-2025
It has hosted a public forum to obtain stakeholder perspectives on the oversight of COVID-19 emergency response funding and has issued a document on the top challenges faced by the federal government in overseeing emergency relief and response efforts. Now, the Pandemic Response Accountability Committee (PRAC), which was established under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) (Pub. L. 116-136), has developed its strategic plan for 2020-2025.
The CARES Act required that the PRAC develop a strategic plan “to ensure coordinated, efficient and effective comprehensive oversight by the committee and inspectors general over all aspects of covered funds and the coronavirus response.” It’s mission is “to serve the American public by promoting transparency and the coordinated oversight of the federal government’s coronavirus response to prevent and detect fraud, waste, abuse and mismanagement and to identify and mitigate major risks that cross program and agency boundaries.” It added that this oversight “will be data-driven, risk-focused and technology-enabled.”
The PRAC will operate under the following four goals and objectives:
- Prevent and detect fraud, waste, abuse and mismanagement: This includes mitigating major risks that cut across program and agency boundaries, and holding wrongdoers accountable.
- Promote transparency: This entails providing the public with timely data and information on covered funds and the coronavirus response.
- Promote coordinated, comprehensive oversight: This goal includes facilitating exceptional coordination and collaboration to ensure high-impact results; fostering sound stewardship of covered funds and programs, including grant programs; and ensuring efficient sharing of data, analytics and other information.
- Ensure effective and efficient PRAC operations: This entails fulfilling statutory responsibilities; supporting the independent oversight of inspectors general; and building a diverse team of innovative thought leaders.
“By leveraging partnerships, practicing these values, and achieving these goals, the PRAC will fulfill its mission to ensure that coronavirus relief and recovery funds intended to mitigate the economic, social and health impacts of the coronavirus pandemic are awarded and used appropriately,” said PRAC Acting Chair Michael E. Horowitz.
Proper oversight of more than $2.4 trillion in federal funding is critical to ensure that they are used efficiently and properly. We will be keeping an eye on the continued work under this committee. In addition, PRAC officials were among the speakers at this week’s National Intergovernmental Audit Forum virtual meeting, and Thompson’s Grants Compliance Expert subscribers will be able to learn more about what they and other governmental audit officials discussed as key concerns in overseeing CARES Act funding.
Join us for our following Federal Grants Forums:
Virtual Federal Grants Forum | August 12-14, 2020
Federal Grants Forum: Denver, CO | October 7-9, 2020
Learn more at http://grants.thompson.com/conferences.aspx.