Empaneled

Rep. Buck McKeon (R-CA.), chairman of the House Armed Services Committee, and Ranking Member Adam Smith (D-WA) today announced the creation of a "special bipartisan panel," led by Rep. Mike Conaway (R-TX) and Rep. Rob Andrews (D-NJ), charged with addressing "the ongoing challenge of financial management in the Pentagon."

In a statement, the lawmakers said the panel would address "broad issues surrounding Defense Department financial management," including the extent to which financial management systems deliver timely, reliable and useful information for decision-making and reporting; DOD's ability to identify efficiencies and waste utilizing financial management systems; the proficiency of financial management personnel in financial and budgetary accounting in order to manage defense resources; and the effectiveness of the Financial Improvement and Audit Readiness plan.

“In these difficult fiscal times, making every penny in the defense budget count must be a top national security priority,” said Conaway. "Improving accountability and reducing waste within the DOD will save taxpayers money and it is essential to reducing our deficit," added Andrews.