To direct the Secretary of Defense to ensure that the audit of the financial statements of the Department of Defense for fiscal year 2024 is conducted using technology that uses artificial intelligence, and for other purposes.
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Committee
Latest Action · March 8, 2024
Referred to the Committee on Armed Services, and in addition to the Committee on Appropriations, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
This bill directs the Secretary of Defense to use artificial intelligence technology to audit the Department of Defense's financial statements for fiscal year 2024. The Under Secretary of Defense and the Inspector General must jointly develop this AI technology to help conduct the audit more efficiently while maintaining proper financial controls and government auditing standards. The legislation also requires that any surplus funds identified through the audit due to valuation and accounting errors be returned to the Treasury to reduce the federal deficit. Within 180 days of the bill's enactment, the Secretary must brief Congress on the progress of the audit and the AI technology that was developed. The bill essentially aims to modernize how the Pentagon conducts its mandatory financial audits by incorporating advanced technology.
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