1. Short title This Act may be cited as the GAO Audit Mandates Revision Act of 2018 . 2. Audits modified (a) Congressional award foundation Section 107 of the Congressional Award Act ( 2 U.S.C. 807 ) is amended— (1) in subsection (b), by striking and to the Comptroller General of the United States ; and (2) by striking subsection (c). (b) Patient centered outcomes research institute Section 1181(g)(2) of the Social Security Act ( 42 U.S.C. 1320e(g)(2) ) is amended— (1) in the paragraph heading, by striking annual ; (2) in subparagraph (A)— (A) by striking clause (i); and (B) by redesignating clauses (ii) through (v) as clauses (i) through (iv), respectively; and (3) by amending subparagraph (B) to read as follows: (II) Reports Not later than April 1 of each year in which a review is conducted under subparagraph (A), the Comptroller General of the United States shall submit to Congress a report containing the results of the review, together with recommendations for such legislation and administrative action as the Comptroller General determines appropriate. . (c) Troubled asset relief program (1) In general Section 116 of the Emergency Economic Stabilization Act of 2008 ( 12 U.S.C. 5226 ) is amended by striking subsection (b) and inserting the following: (b) Audits (1) Annual audit The TARP shall annually prepare and issue to the appropriate committees of Congress and the public audited financial statements that shall be— (A) prepared in accordance with generally accepted accounting principles; (B) prepared and audited in the same manner as the financial statements of covered executive agency components under sections 3515 and 3521 of title 31, United States Code