President Signs Act Requiring DHS to Achieve Audit Readiness by September 2013

January 18, 2013

On December 20, 2012, President Barack Obama signed the “Department of Homeland Security Audit Requirement Target Act of 2012” (Pub. L. 112-217; S. 1998). This act requires the secretary of homeland security to ensure that a full set of consolidated financial statements is ready for an audit report by September 2013 (and each fiscal year thereafter) in order to obtain an unqualified opinion on these records. Additionally, the act requires the chief financial officer of the Department of Homeland Security (DHS) to submit a plan to Congress regarding DHS’ plan to modernize its financial management systems.