SINGLE AUDIT ACT.

SEC. 5. SINGLE AUDIT ACT. (a) Amendments.— (1) Audit requirements.—Section 7502(h) of title 31, United States Code, is amended, in the matter preceding paragraph (1), by inserting “in an electronic form in accordance with the data standards established under chapter 64 and” after “the reporting package,”. (2) Regulations.—Section 7505 of title 31, United States Code, is amended by adding at the end the following: “(d) Such guidance shall require audit-related information reported under this chapter to be reported in an electronic form in accordance with the data standards established under chapter 64.” . (b) [31 U.S.C. 7505 note] Guidance.—Not later than 3 years after the date of enactment of this Act, the Director shall issue guidance requiring audit-related information reported under chapter 75 of title 31, United States Code, to be reported in an electronic form consistent with the data standards established under chapter 64 of that title, as added by section 4(a) of this Act.