The RECEIPTS Act aims to ensure auditable financial statements for the Department of Defense by 2028.
The RECEIPTS Act, or Reviewing Every Check and Each Invoice Purchasing Troops’ Supplies Act, mandates the Department of Defense to achieve auditable financial statements by 2028. If the Department fails to obtain an unqualified audit opinion by December 31, 2028, it must transfer non-defense payroll and finance services from the Defense Finance and Accounting Service (DFAS) to another government entity. The Act also establishes an Audit Committee to oversee the audit process, composed of the Deputy Secretary of Defense, the Chief Information Officer, and others.
The filed bill text is too short for analysis.