This legislation, titled the "Independent and Objective Oversight of Ukrainian Assistance Act," aims to ensure independent and objective conduct and supervision of audits and investigations related to U.S. military, economic, and humanitarian aid provided to Ukraine. Its primary purpose is to promote economic efficiency, prevent waste, fraud, and abuse, and keep relevant Federal agencies and Congress informed about problems and corrective actions. The bill establishes the Office of the Special Inspector General for Ukrainian Military, Economic, and Humanitarian Aid (SIGU), with its head appointed by the President based on integrity and demonstrated ability in relevant fields.

The SIGU's duties include conducting and coordinating audits and investigations into the handling and expenditure of aid funds, covering activities since February 24, 2022. This oversight encompasses the obligation and expenditure of funds, reconstruction efforts, contracts, transfers of funds, and the effectiveness of U.S. coordination with Ukraine and other partners. The SIGU is also tasked with investigating overpayments and potential unethical or illegal actions, referring findings to the Department of Justice as necessary.

The Special Inspector General reports directly to the Secretaries of State and Defense but maintains independence in conducting investigations and audits, with no officer permitted to prevent such activities or subpoena issuance. The Office is granted authorities similar to other Inspectors General, including expedited hiring. It must submit quarterly reports to Congress and relevant Secretaries, detailing obligations, expenditures, project costs, revenue sources, and major contract information.

These quarterly reports are required to be made publicly available on an internet website in English, Ukrainian, and Russian, though the President may waive public disclosure for national security reasons. The bill authorizes $20,000,000 for fiscal year 2026 to carry out its provisions, rescinding an equivalent amount from existing appropriations. The Office will terminate 180 days after unexpended reconstruction funds for Ukraine fall below $250,000,000, at which point a final forensic audit report will be submitted.