Veteran Transition Assistance Program Audit Act of 2011 - Directs the Secretary of Labor to enter into a contract for audits of the Transition Assistance Program (a job training, benefits, and transitional services program of the Department of Defense [DOD] in conjunction with other federal agencies for members of the military separated or recently separated from active duty) with a private, unaffiliated organization. Requires such audits at least once every three years.
Directs the contracted organization to measure the effectiveness of the program, identify any necessary improvement measures, and submit a related report to the Secretary of Labor, DOD Secretary, Secretary of Homeland Security (DHS), Secretary of Veterans Affairs (VA), and Congress. Requires such Secretaries to implement any necessary improvement measures.