Foreign Aid Transparency and Accountability Act of 2012 - Directs the President to establish guidelines regarding the establishment of measurable goals, performance metrics, and monitoring and evaluation plans for U.S. foreign assistance.
Requires such guidelines to provide direction to federal departments and agencies that administer U.S. foreign assistance on developing the range of activities relating to: (1) resource monitoring, (2) project and program evaluation, and (3) analysis of findings and generalizations and their applicability to proposed project and program design.
Requires within one year: (1) each appropriate federal department or agency to begin using such guidelines, and (2) the President to submit a related report to Congress.
Directs the President to require the Secretary of State to establish and maintain an Internet website to make publicly available comprehensive and accessible information on U.S. foreign assistance programs.
Requires any cost of implementing this Act to be offset through the elimination of initiatives, positions, and programs within a federal department or agency administering foreign assistance, as determined by the Secretary of State and the head of each federal department or agency in consultation with Congress.