AICPA calls on Senate to support transparent federal financial data standards

11/5/2013 | AccountingWEB

The AICPA has written to the chair and ranking member of the Senate Homeland Security and Governmental Affairs Committee, Sens. Tom Carper, D-Del., and Tom Coburn, R-Okla., respectively, calling on them to include a provision in pending legislation that would establish financial data standards for federal funds. The committee is scheduled to mark up the bipartisan measure, the Digital Accountability and Transparency Act of 2013, today. The AICPA noted that reporting federal spending using nonproprietary, platform-independent data standards will "allow Congress, federal agencies, and the American public to understand, analyze, and communicate where taxpayer dollars are spent using low-cost, readily available tools."

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