The Digital Accountability and Transparence Act of 2014 established five requirements:
- Requirement 1 – Expand the Federal Funding Accountability and Transparency Act of 2006 (31 U.S.C. 6101 note) by disclosing direct Federal agency expenditures and linking Federal contract, loan, and grant spending information to programs of Federal agencies to enable taxpayers and policy makers to track Federal spending more effectively;
- Requirement 2 – Establish Government-wide data standards for financial data and provide consistent, reliable, and searchable Government-wide spending data that is displayed accurately for tax- payers and policy makers on USASpending.gov (or a successor system that displays the data);
- Requirement 3 – Simplify reporting for entities receiving Federal funds by streamlining reporting requirements and reducing compliance costs while improving transparency;
- Requirement 4 – Improve the quality of data submitted to USASpending.gov by holding Federal agencies accountable for the completeness and accuracy of the data submitted; and
- Requirement 5 – Apply approaches developed by the Recovery Accountability and Transparency Board to spending across the Federal Government.
Our teams help agencies establish their data standards (requirement 1), simplify the reporting of their data (requirement 2), improve the quality of their data (requirement 3), expand the accountability of agencies and their data (requirement 4), and apply proven approaches to reporting data (requirement 5) based on the DATA Act Information Model Schema (DAIMS). Additionally, our teams have established analytic base models to validate compliance, or any potential gaps, as the data standards in the DAIMS are updated.