The DATA Act requires Federal agencies to disclose their direct expenditures and to disaggregate spending on Federal contracts, loans, and grants related to its programs. It also requires agencies to follow data definition standards to make financial and payment information consistent and reliable throughout the Federal Government.
We contracted with the independent certified public accounting firm of Brown & Company Certified Public Accountants and Management Consultants PLLC to conduct an audit of MCC’s compliance in fiscal year 2017 with the DATA Act. The audit objectives were to assess (1) the completeness, timeliness, quality, and accuracy of MCC’s fiscal year 2017 second quarter financial and award data submitted to the U.S. Department of the Treasury for publication on USASpending.gov and (2) MCC’s implementation and use of the Governmentwide financial data standards established by OMB and Treasury. The audit firm concluded that the fiscal year 2017 second quarter financial and award data submitted by MCC complied with OMB and Treasury requirements for completeness, timeliness, quality, and accuracy. In addition, the audit firm concluded that the data MCC submitted was in all material respects presented in accordance with the data definition standards published by OMB and Treasury for DATA Act reporting. MCC agreed with the report conclusions. The report contained no recommendations.