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Open Data in Spending- The DATA Act and Federal Management

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When Congress unanimously passed the DATA Act in May 2014, it did not just impose the first-ever open data law. It also transformed the financial management of the largest organization in history. Until the DATA Act, agencies, grantees, and contractors separately reported their finances, with no way to match agency accounts to specific grants and contracts or bring together an enterprise-wide view across the whole government. By requiring the Treasury Department and the White House to adopt a consistent, government-wide electronic structure for all this information, and by providing for the whole corpus of federal spending to be published in one place, the DATA Act builds a way for citizens will be able to follow how their taxes are being spent. But the impact is no less profound for leaders within the government. This session will explore how the transformation of federal spending into open data will help financial managers and watchdogs solve internal management challenges and deploy Big Data analytics to hunt for waste and fraud.

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