diff --git a/src/components/OptionListContextProvider.tsx b/src/components/OptionListContextProvider.tsx
index 1603de9e3d10..93b302ef19fd 100644
--- a/src/components/OptionListContextProvider.tsx
+++ b/src/components/OptionListContextProvider.tsx
@@ -151,10 +151,6 @@ function OptionsListContextProvider({children}: OptionsListProviderProps) {
     }, [personalDetails, reports]);
 
     const initializeOptions = useCallback(() => {
-        if (areOptionsInitialized.current) {
-            return;
-        }
-
         loadOptions();
         areOptionsInitialized.current = true;
     }, [loadOptions]);
diff --git a/src/libs/ReportUtils.ts b/src/libs/ReportUtils.ts
index edfe8546cf13..ed43cf590639 100644
--- a/src/libs/ReportUtils.ts
+++ b/src/libs/ReportUtils.ts
@@ -4599,7 +4599,8 @@ function getChatRoomSubtitle(report: OnyxEntry<Report>, config: GetChatRoomSubti
         return report?.reportName?.substring(1) ?? '';
     }
     if ((isPolicyExpenseChat(report) && !!report?.isOwnPolicyExpenseChat) || isExpenseReport(report)) {
-        const submitToAccountID = getSubmitToAccountID(getPolicy(report?.policyID), report);
+        const policy = allPolicies?.[`${ONYXKEYS.COLLECTION.POLICY}${report?.policyID}`];
+        const submitToAccountID = getSubmitToAccountID(policy, report);
         const submitsToAccountDetails = allPersonalDetails?.[submitToAccountID];
         const subtitle = submitsToAccountDetails?.displayName ?? submitsToAccountDetails?.login;
 
diff --git a/src/pages/iou/request/MoneyRequestParticipantsSelector.tsx b/src/pages/iou/request/MoneyRequestParticipantsSelector.tsx
index 0c333ed71cba..9091c3ba0ded 100644
--- a/src/pages/iou/request/MoneyRequestParticipantsSelector.tsx
+++ b/src/pages/iou/request/MoneyRequestParticipantsSelector.tsx
@@ -78,7 +78,7 @@ function MoneyRequestParticipantsSelector({participants = CONST.EMPTY_ARRAY, onF
     const policy = usePolicy(activePolicyID);
     const [isSearchingForReports] = useOnyx(ONYXKEYS.IS_SEARCHING_FOR_REPORTS, {initWithStoredValues: false});
     const [currentUserLogin] = useOnyx(ONYXKEYS.SESSION, {selector: (session) => session?.email});
-    const {options, areOptionsInitialized} = useOptionsList({
+    const {options, areOptionsInitialized, initializeOptions} = useOptionsList({
         shouldInitialize: didScreenTransitionEnd,
     });
     const cleanSearchTerm = useMemo(() => debouncedSearchTerm.trim().toLowerCase(), [debouncedSearchTerm]);
@@ -92,6 +92,12 @@ function MoneyRequestParticipantsSelector({participants = CONST.EMPTY_ARRAY, onF
         searchInServer(debouncedSearchTerm.trim());
     }, [debouncedSearchTerm]);
 
+    useEffect(() => {
+        // This is necessary to ensure the options list is always up to date
+        // e.g. if the approver was changed in the policy, we need to update the options list
+        initializeOptions();
+    }, [initializeOptions]);
+
     const defaultOptions = useMemo(() => {
         if (!areOptionsInitialized || !didScreenTransitionEnd) {
             return {