The Financial Times reported Friday that the investigation was prompted by alleged contracting and procurement problems.
An al-Hurra spokeswoman described the review as normal for any group funded by Congress.
The State Department would not confirm the newspaper report, but a spokesman said a routine audit of the Arabic-language satellite network is set for later this month.
Al-Hurra, seen in 22 countries in the Arab world, is supervised by the Broadcasting Board of Governors, which also oversees VOA. Al-Hurra's news director, Mouafac Harb, describes the network as a "transparent operation," adding he is proud of what it has achieved.