for lost firearms and other sensitive assets in inventory systems, including a timeline for recording such losses. (3) Review and update of directive Not later than one year after the issuance of the directive required under subsection (a) the Under Secretary for Management shall review and update, as necessary, such directive, including adding a requirement relating to recording in the inventory systems maintained by each component of the Department the acceptance or transfer of a firearm or other sensitive asset by such component. (b) Personal Property Asset Management Program Manual Together with the issuance of the directive pursuant to subsection (a), the Under Secretary for Management shall disseminate a revised version of the Personal Property Asset Management Program Manual that includes the following: (1) Procedures to safeguard sensitive assets during on- and off-duty time, and utilization of safety locking devices and policies on the use of such assets, as applicable. (2) Initial, recurrent, and remedial training on safeguarding such assets. (3) Examples, with detail, of how to record lost sensitive assets across components of the Department, and an enforcement mechanism to ensure supervisors maintain such records. (4) A requirement that the file maintained on a lost firearm or other sensitive asset contains both the corresponding police report and the Department report detailing the circumstances surrounding such loss, including information on adherence to safeguarding procedures. 5. Component responsibilities Department component heads shall— (1) comply with Federal law, Federal regulations, executive branch guidance, and Department policy, including directives required by this Act, relating to the management and oversight of securing firearms and other sensitive assets