In 1968, the Joint Audit and Evaluation Committee originated as the Budget and Audit Committee (Chapter 456, Acts of 1968). The Committee became the Joint Audit Committee in 1997 (Chapter 635, Acts of 1997). In July 2019, it received its present name and expanded responsibilities (Chapters 510 & 511, Acts of 2019).

The Committee reviews the audit reports issued by the Legislative Auditor and submits its findings and recommendations concerning them to the General Assembly. It also reviews audit processes and procedures, and makes comments or recommendations about them to the Senate President, the House Speaker, the Executive Director of the Department of Legislative Services, and the Legislative Auditor.

From October 2018 through September 2023, the Committee is to review the Baltimore City Comptroller's audit reports on the Baltimore City Police Department, and submit its findings and recommendations to the General Assembly. Further, the Committee will review the City Comptroller's audit process and procedures, and make comments or recommendations about them to the Senate President, the House Speaker, the Executive Director of the Department of Legislative Services, and the Legislative Auditor (Chapter 753, Acts of 2018).

Beginning in 2019, the Committee also reviews the performance evaluations conducted by the Office of Program Evaluation and Government Accountability, as well as the reports issued by the Office, and submits the Committee's findings and recommendations to the General Assembly. Further, the Committee reviews the performance education process and its procedures, and provides comments and recommendations to the Senate President, House Speaker, the Executive Director of the Department of Legislative Services, and the Director of the Office of Program Evaluation and Government Accountability (Chapters 510 & 511, Acts of 2019).

Twenty members constitute the Committee: ten members of the Senate appointed by the Senate President, and ten members of the House of Delegates named by the House Speaker. The Senate President and the House Speaker jointly choose the chair and vice-chair (Code State Government Article, secs. 2-601 through 2-606).