Department of Veterans Affairs Chief Financial Officer Authority and Collaboration Act of 2020
This bill addresses the authority and responsibilities of the Chief Financial Officer (CFO) of the Department of Veterans Affairs (VA).
Specifically, the bill requires the VA to submit an action plan to address the material weaknesses of the VA discussed in the Management's Discussion and Analysis section of the VA's financial statements.
Additionally, the VA must submit a plan outlining the steps planned to (1) address the recommendations of auditors related to entity-level controls, and (2) provide sufficient authority to carry out the CFO's duties.
The CFO must submit a certification of the officer's responsibilities for internal financial controls of the VA and an attestation of sufficient collaboration with the subordinate chief financial officers to be confident in the financial projections included in the budget request and supporting materials.
Finally, the CFO must participate in the interview and selection panels of all subordinate chief financial officers and give input into the performance plans and evaluations of all such officers.
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