Briefing on beginning balance issues for audit purposes

(a) In general Not later than March 1, 2026, the Under Secretary of Defense (Comptroller) shall submit to the congressional defense committees a one-time briefing on any anticipated issues in establishing beginning balances for audits of the financial statements of the Department of Defense. (b) Elements The briefing required under subsection (a) shall include— (1) a detailed identification of each budgetary account known to have and anticipated to have unsupported beginning balances; (2) a description of the specific issues preventing the establishment of supported beginning balances for each identified account; (3) an explanation of whether generally accepted accounting principles provide sufficient authority, processes, and procedures to resolve such issues, and if not, the alternative sources or methods proposed to establish beginning balances; and (4) the projected impact to receiving an unmodified audit opinion of that account without a supported beginning balance.

(a) In general Not later than March 1, 2026, the Under Secretary of Defense (Comptroller) shall submit to the congressional defense committees a one-time briefing on any anticipated issues in establishing beginning balances for audits of the financial statements of the Department of Defense. (b) Elements The briefing required under subsection (a) shall include— (1) a detailed identification of each budgetary account known to have and anticipated to have unsupported beginning balances; (2) a description of the specific issues preventing the establishment of supported beginning balances for each identified account; (3) an explanation of whether generally accepted accounting principles provide sufficient authority, processes, and procedures to resolve such issues, and if not, the alternative sources or methods proposed to establish beginning balances; and (4) the projected impact to receiving an unmodified audit opinion of that account without a supported beginning balance.