The Digital Accountability and Transparency Act of 2014 (DATA Act) requires the establishment of governmentwide data standards for financial data such as Federal agency expenditures, contracts, loans, and grant programs. These standards are intended to make it easier for taxpayers and policy makers to review and track Federal spending activity with accessible, consistent, reliable, and searchable data.
The DATA Act also requires inspectors general to assess the completeness, accuracy, timeliness and quality of the data submitted by agencies and their implementation and use of the data standards. Accordingly, we are initiating this audit to assess (1) the completeness, accuracy, timeliness, and quality of financial and award data submitted for publication on USASpending.gov and (2) the Department’s implementation and use of the governmentwide financial data standards established by the Office of Management and Budget (OMB) and the Department of Treasury. We have engaged KPMG, LLP, an independent public accounting firm, to conduct this audit subject to our oversight.