The House passed in a voice vote the Digital Accountability and Transparency Act. The legislation calls for federal agencies to report spending using nonproprietary standards, such as eXtensible Business Reporting Language. The DATA Act would also establish standards for electronic publishing of federal spending. The AICPA has advocated for this legislation to enhance transparency since introduction. Read a statement from AICPA President and CEO Barry Melancon, CPA, CGMA.

Related Summaries