10 U.S.C. § 8025: Financial management

supervise and direct the preparation of budget estimates of the Department of the Navy and otherwise carry out, with respect to the Department of the Navy, the functions specified for the Under Secretary of Defense (Comptroller) in section 135(c) of this title ; approve and supervise any project to design or enhance a financial management system for the Department of the Navy; and systems for cash management, credit management, and debt collection; and systems for the accounting for the quantity, location, and cost of property and inventory. the accounting and financial reporting principles, standards, and requirements established by the Comptroller General under section 3511 of title 31 ; and the internal control standards established by the Comptroller General under section 3512 of title 31 . complete, reliable, consistent, and timely information which is prepared on a uniform basis and which is responsive to the financial information needs of department management; the development and reporting of cost information; the integration of accounting and budgeting information; and the systematic measurement of performance. The Assistant Secretary shall maintain a five-year plan describing the activities the Department of the Navy proposes to conduct over the next five fiscal years to improve financial management. Such plan shall be revised annually. The Assistant Secretary of the Navy for Financial Management shall transmit to the Secretary of the Navy a report each year on the activities of the Assistant Secretary during the preceding year. Each such report shall include a description and analysis of the status of Department of the Navy financial management.