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August 12, 2016
Data Coalition News
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The latest:
  • Nine Months to Reporting Deadline, GAO Finds Two Big DATA Act Challenges
  • Spotlight: CFA Institute Releases Paper on Modernizing the Financial Reporting Process
  • DATA Act Page Revamped!
  • California Database Hunt - DC

Nine Months to Reporting Deadline, GAO Finds Two Big DATA Act Challenges

The Government Accountability Office (GAO) has released two reports assessing the federal government’s work on the DATA Act. Nine months from now, in May 2017, every federal agency must begin reporting standardized spending data.

If the agencies follow the law, and if they report good, quality data, they’ll create the world’s most valuable open data set: a single, standardized view of the spending of the entire federal executive branch.

(Want to see how next May’s deadline fits in the whole story of the DATA Act? Check out this DATA Act overview infographic with the implementation timeline. And for a review of the GAO’s last major DATA Act report, in January 2016, check out our blog summary).

The White House Office of Management and Budget (OMB) and the Department of the Treasury are leading the agencies toward the DATA Act’s goal, under GAO’s watchful eye.

GAO’s first report assessed the agencies’ plans to standardize and report their spending data. The second report examined the reporting process that Treasury and OMB have set up – the process that will kick into gear in May 2017.

Continue reading the Coalition's latest blog here

Spotlight: CFA Institute Releases Paper on Modernizing the Financial Reporting Process

Earlier this year CFA Institute's Mohini Singh and Sandra Peters, CFA co-authored a new research paper on harnessing technology to modernize financial reporting. The paper examines the ways financial regulators collect their data, present, and utilize financial reports. The paper assesses how data and data analytics can be deployed more effectively. Further, it sets out a long-term vision for implementing structured data across all financial entities.

Modernizing the financial reporting process provides better insight for investors and greater oversight for regulators. Ultimately, industry would be equipped to report automatically.

The Data Coalition is currently advocating in Congress for the passage of the Financial Transparency Act (HR 2477). The legislative proposal sets out to achieve similar policy changes laid out in the CFA Institute report; specifically, data standardization for financial reports and adoption of the LEI (Legal Entity Identifier) by regulators. Finally, regulators should publish financial reports as open, electronically searchable, and downloadable in bulk.
Read & download the paper here!

DATA Act Page Revamped!

We've revamped the DATA Act page! It has a whole host of resources including an extensive timeline that identifies the crucial milestones for DATA Act implementation. The page features a section on how to "Get Involved" and a "Knowledge Center" where you'll find the most up-to-date research on the open data law. 
View the page here!

UPCOMING EVENTS

California Database Hunt - DC, Saturday August 27, 2016

Join fellow transparency advocates for the California Database Hunt, a virtual and IRL (In Real Life) sprint to collect data catalogs from local governments across California.

The Electronic Frontier Foundation, the Sunlight Foundation, and the Data Foundation are teaming up for a four-hour session to sweep through California cities and counties, large and small, and other local agencies to collect these catalogs. We need your help. Join us in DC!

Register here!
When: 2:00pm - 6:00pm, Saturday, August 27, 2016
Where: Data Foundation, 1003 K St NW, Suite 200, Washington, DC 20001

Data Transparency 2016 Featuring the White House Open Data Innovation Summit, September 28, 2016

Data Transparency 2016 (DT2016) will bring together government leaders, transparency advocates, and the technology industry to transform government information from disconnected documents into open data. 

DT2016 will feature three tracks: Open Data in Management, Open Data in Regulation, and the first-ever White House Open Data Innovation Summit.

DT2016 is our fourth annual policy conference, hosted for the first time by the Coalition's sister organization, the Data Foundation. DT2016 is presented by Socrata
Register here!
When: 8:00am - 5:30pm, Wednesday, September 28, 2016
Where: Washington Convention Center, Washington, DC 20003
Media inquiries: Contact Jessica Yabsley at jessica.yabsley@datafoundation.org
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Delays in Data Act standards could complicate compliance
GAO: OMB, Treasury Don't Monitor DATA Act Enough

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About Us

The Data Coalition advocates on behalf of the private sector and the public interest for the publication of government information as standardized, open data.
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