Amends the Organic Act of Guam to direct the Governor of Guam to: (1) submit an annual financial report to the Congress and the Secretary of the Interior (currently such report is prepared by the comptroller general); (2) arrange for an independent audit of such report; and (3) submit a statement of actions taken on Federal audit recommendations.

Transfers specified functions, powers, and duties from the government comptroller for Guam to the Inspector General, Department of the Interior, in order to establish an organization to maintain an independent audit oversight of the government of Guam.

Amends the Revised Organic Act of the Virgin Islands to direct the Governor of the Virgin Islands to: (1) submit an annual financial report to the Congress and the Secretary of the Interior (currently such report is prepared by the comptroller general); (2) arrange for an independent audit of such report; and (3) submit a statement of actions taken on Federal audit recommendations.

Transfers specified functions, powers, and duties from the government comptroller for the Virgin Islands to the Inspector General, Department of the Interior, in order to establish an organization to maintain an independent audit oversight of the government of the Virgin Islands.

Amends the Act relating to the Trust Territory of the Pacific Islands to direct the chief excutives of the Marshall Islands, the Federated States of Micronesia, Palau, and the Northern Mariana Islands to: (1) submit an annual financial report to the Congress, the Secretary of the Interior and the High Commissioner of the Trust Territory of the Pacific Islands; (2) arrange for an independent audit of such report; and (3) submit a statement of actions taken on Federal audit recommendations.

Transfers specified functions, powers, and duties from the government comptroller for Guam to the Inspector General, Department of the Interior, in order to establish an organization to maintain an independent audit oversight of the governments of the Marshall Islands, the Federated States of Micronesia, Palau, and the Northern Mariana Islands.

Directs the Governor of American Samoa to: (1) submit an annual financial report to the Congress and the Secretary of the Interior; (2) arrange for an independent audit of such report; and (3) submit a statement of actions taken on Federal audit recommendations.

Transfers specified functions, powers, and duties from the government comptroller for American Samoa to the Inspector General, Department of the Interior, in order to establish an organization to maintain an independent audit oversight of the government of American Samoa.