made, discounts for timely or advanced payments, and other financial management and improvement initiatives. (2) Information covered The tool shall cover financial performance information for the military departments, the defense agencies, and any other organizations or elements of the Department of Defense. (3) Tracking of performance over time The tool shall permit the tracking of financial performance over time, including by month, quarter, and year, and permit users of the tool to export both current and historical data on financial performance. (4) Updates The information covered by the tool shall be updated not less frequently than monthly. (b) Annual report on value created by improved financial management Not later than December 31 each year, the Secretary of Defense shall submit to Congress a report setting forth, for each military department, defense agency, and other organization or element of the Department of Defense, the following: (1) A description of the value, if any, that accrued as a result of improved financial management and related cost-savings initiatives during the most recent fiscal year. (2) A description of the manner in which such value, if any, was applied, and will be applied, to provide mission value. (3) A target for the savings to be achieved as a result of improved financial management and related cost-savings initiatives during the fiscal year in which such report is submitted. 1007. Comptroller General of the United States recommendations on audit capabilities and infrastructure and related matters (a) Bi-monthly summary of status of audit corrective action plan The Under Secretary of Defense (Comptroller) shall assemble on a bi-monthly basis a management summary of the current status of actions under the consolidated audit corrective action plan (CAP) with respect to the critical audit capabilities and associated infrastructure of the Department of Defense, the military departments, the Defense Agencies, and other organizations and elements of the Department of Defense. (b)