Congress recently passed the Financial Data Transparency Act (FDTA) as part of the 2023 National Defense Authorization Act. The FDTA is intended to improve data transparency through new standards that require financial information to be automated, searchable, and machine-readable. Full implementation of the legislation may take up to four years.
The Auditor of State’s office created the summary linked below to provide an overview of what to expect as the law moves forward. AOS will also post additional guidance on its website as it is released.
Click here for the AOS document.