; (B) the type and amount of assistance provided from the entity loan fund; (C) the expected funding schedule; and (D) the anticipated date of completion of the project. (3) Oversight (A) In general The Administrator shall, at least every 4 years, conduct reviews and audits as may be determined necessary or appropriate by the Administrator to carry out the objectives of this section and determine the effectiveness of the fund in reducing natural hazard risk. (B) GAO requirements The entity shall conduct audits under paragraph (1) in accordance with the auditing procedures of the Government Accountability Office, including generally accepted government auditing standards. (C) Recommendations by administrator The Administrator may at any time make recommendations for or require specific changes to an entity loan fund in order to improve the effectiveness of the fund. (i) Regulations or guidance The Administrator shall issue such regulations or guidance as are necessary to— (1) ensure that each participating entity uses funds as efficiently as possible; (2) reduce waste, fraud, and abuse to the maximum extent possible; and (3) require any party that receives funds directly or indirectly under this section, including a participating entity and a recipient of amounts from an entity loan fund, to use procedures with respect to the management of the funds that conform to generally accepted accounting standards. (j) Liability protections The Federal Emergency Management Agency shall not be liable for any claim based on the exercise or performance of, or the failure to exercise or perform, a discretionary function or duty by the Agency, or an employee of the Agency in carrying out this section. (k) Definitions In this section, the following definitions apply: (1) Administrator The term Administrator means the Administrator of the Federal Emergency Management Agency. (2) Agency The term Agency means the Federal Emergency Management Agency. (3) Eligible entity The term eligible entity means— (A) a State