Sec. 1003. ADDITIONAL REQUIREMENTS RELATING TO THE DEVELOPMENT OF THE FINANCIAL IMPROVEMENT AND AUDIT READINESS PLAN
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## SEC. 1003 ADDITIONAL REQUIREMENTS RELATING TO THE DEVELOPMENT OF THE FINANCIAL IMPROVEMENT AND AUDIT READINESS PLAN **[**[10 U.S.C. 2222 note](/us/usc/t10/s2222)**]** ###
(a)Planning Requirement ####
(1)In general The report to be issued pursuant to section 1003(b) of the National Defense Authorization Act for 2010 (Public Law 111-84; 123 Stat. 2440; 10 U.S.C. 2222 note) and provided by not later than May 15, 2012, shall include a plan, including interim objectives and a schedule of milestones for each military department and for the defense agencies, to support the goal established by the Secretary of Defense that the statement of budgetary resources is validated for audit by not later than September 30, 2014. Consistent with the requirements of such section, the plan shall include process and control improvements and business systems modernization efforts necessary for the Department of Defense to consistently prepare timely, reliable, and complete financial management information. ####
(2)Semiannual updates The reports to be issued pursuant to such section after the report described in paragraph
(1)shall update the plan required by such paragraph and explain how the Department has progressed toward meeting the milestones established in the plan. ###
(b)Inclusion of Subordinate Activities for Interim Milestones For each interim milestone established pursuant to section 881 of the Ike Skelton National Defense Authorization Act for Fiscal Year 2011 (Public Law 111-383; 124 Stat. 4306; 10 U.S.C. 2222 note), the Under Secretary of Defense (Comptroller), in consultation with the Deputy Chief Management Officer of the Department of Defense, the Secretaries of the military departments, and the heads of the defense agencies and defense field activities, shall include a detailed description of the subordinate activities necessary to accomplish each interim milestone, including— ####
(1)a justification of the time required for each activity; ####
(2)metrics identifying the progress made within each activity; and ####
(3)mitigating strategies for milestone timeframe slippages. ###
(c)Report Required ####
(1)In general The Secretary of Defense shall submit to Congress a report relating to the Financial Improvement and Audit Readiness Plan of the Department of Defense submitted in accordance with section 1003 of the National Defense Authorization Act for 2010 (Public Law 111-84; 123 Stat. 2440; 10 U.S.C. 2222 note) and section 881 of the Ike Skelton National Defense Authorization Act for Fiscal Year 2011 (Public Law 111-383; 121 Stat. 4306; 10 U.S.C. 2222 note). ####
(2)Matters covered The report shall include a corrective action plan for any identified weaknesses or deficiencies in the execution of the Financial Improvement and Audit Readiness Plan. The corrective action plan shall— #####
(A)identify near- and long-term measures for resolving any such weaknesses or deficiencies; #####
(B)assign responsibilities within the Department of Defense to implement such measures; #####
(C)specify implementation steps for such measures; and #####
(D)provide timeframes for implementation of such measures.
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- Pub. L. 111-84
- 123 Stat. 2440
- Pub. L. 111-383
- 124 Stat. 4306
- 121 Stat. 4306
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Sec. 1003
ADDITIONAL REQUIREMENTS RELATING TO THE DEVELOPMENT OF THE FINANCIAL IMPROVEMENT AND AUDIT READINESS PLAN
Pub. L.Pub. L. 111-84
Stat.123 Stat. 2440
Pub. L.Pub. L. 111-383
Stat.124 Stat. 4306
Stat.121 Stat. 4306
Cites 6Cited by 0 across 0 sources