AICPA
AICPA Submits Comment Letters Addressing Form 3520 and Form 3520-A Issues
Aug 23, 2023
AICPA Submits Comments on Proposed and Temporary Regulations on Elective Payments and Transfer of Credits
Aug 22, 2023
CBO
Cost Estimate
H.R. 1319, Biking on Long-Distance Trails Act
August 25, 2023
As ordered reported by the House Committee on Natural Resources on April 28, 2023
Cost Estimate
H.R. 3299, DIGITAL Applications Act
August 25, 2023
As ordered reported by the House Committee on Energy and Commerce on May 24, 2023
Cost Estimate
S. 306, Tule River Tribe Reserved Water Rights Settlement Act of 2023
August 25, 2023
As ordered reported by the Senate Committee on Indian Affairs on March 29, 2023
Cost Estimate
S. 728, Paycheck Fairness Act
August 25, 2023
As reported by the Senate Committee on Health, Education, Labor, and Pensions on July 18, 2023
Cost Estimate
H.R. 3152, Fight and Combat Rampant Iranian Missile Exports Act
August 24, 2023
As ordered reported by the House Committee on Foreign Affairs on July 26, 2023
Cost Estimate
H.R. 3371, Wounded Knee Massacre Memorial and Sacred Site Act
August 24, 2023
As ordered reported by the House Committee on Natural Resources on June 13, 2023
Cost Estimate
H.R. 3385, a bill to direct the Secretary of Commerce to submit to Congress a report containing an assessment of the value, cost, and feasibility of a trans-Atlantic submarine fiber optic cable connecting the contiguous United States, the United States Virgin Islands, Ghana, and Nigeria
August 24, 2023
As ordered reported by the House Committee on Energy and Commerce on July 27, 2023
Cost Estimate
H.R. 4691, Iran Sanctions Relief Review Act of 2023
August 24, 2023
As ordered reported by the House Committee on Foreign Affairs on July 26, 2023
Cost Estimate
H.R. 4825, No Illegal Oil from Russia Act of 2023
August 24, 2023
As ordered reported by the House Committee on Foreign Affairs on July 26, 2023
Cost Estimate
H.R. 788, Stop Settlement Slush Funds Act of 2023
August 24, 2023
As ordered reported by the House Committee on the Judiciary on June 14, 2023
Cost Estimate
S. 535, Bureau of Land Management Mineral Spacing Act
August 24, 2023
As reported by the Senate Committee on Energy and Natural Resources on July 11, 2023
Cost Estimate
S. 359, Supreme Court Ethics, Recusal, and Transparency Act of 2023
August 23, 2023
As ordered reported by the Senate Committee on the Judiciary on July 20, 2023
Blog Post
CBO’s Panel of Health Advisers, 2023
August 22, 2023
CBO announces the members of its Panel of Health Advisers for the coming year.
Cost Estimate
S. 1822, Non-Intrusive Inspection Expansion Act
August 22, 2023
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on June 14, 2023
Cost Estimate
S. 567, Richard L. Trumka Protecting the Right to Organize Act of 2023
August 22, 2023
As ordered reported by the Senate Committee on Health, Education, Labor, and Pensions on June 21, 2023
FAF
Financial Accounting Foundation Announces Appointment and Reappointments to the Private Company Council (PCC)
August 22, 2023
FASB
FASB Issues Standard That Improves Accounting for Joint Venture Formations
August 23, 2023
Financial Accounting Foundation Announces Appointment and Reappointments to the Private Company Council (PCC)
August 22, 2023
GAO
Alaska Land Management:
Resolving Ownership of Submerged Lands
GAO-23-10623
Published: . Publicly Released: .
Lakes and rivers in Alaska often serve as key transportation corridors. Many of these waterways and the lands below them—including their beds, banks, and natural resources—are managed by the federal government. But under federal law, a state owns submerged lands beneath waters that were navigable as of the date of statehood—1959 for Alaska. This Q&A describes the processes for resolving ownership of submerged lands and...
Tribal Broadband Connectivity Program:
Feedback Should Be Provided to Applicants Receiving Equitable Distribution Grants
GAO-23-106824
Published: Aug 24, 2023
Publicly Released: Aug 24, 2023
The National Telecommunications and Information Administration has a new program offering grants for projects that increase tribal access to broadband internet. Some applicants received full project funding in the first round of funding, while others received "equitable distribution grants"—grants up to $500,000 instead of the amount they requested. But NTIA didn't provide constructive feedback to the equitable distribution grant recipients. Feedback could help them improve...
DHS Acquisitions:
Opportunities Exist to Enhance Risk Management
GAO-23-106249
Published: Aug 24, 2023
Publicly Released: Aug 24, 2023
The Department of Homeland Security spends billions of dollars each year on major purchases like new Coast Guard ships and systems for screening travelers. For these programs to succeed, DHS must manage acquisition risks—potential negative effects on program cost, schedule, or performance. We found that DHS's acquisition risk management guidance generally follows best practices developed by GAO and others, but that there's room for improvement...
Senior Reserve Officers' Training Corps:
Actions Needed to Better Monitor Diversity Progress
GAO-23-105857
Published: Aug 24, 2023
Publicly Released: Aug 24, 2023
Reserve Officers' Training Corps (ROTC) programs are DOD's largest source of military officers. As such, ROTC programs can help cultivate diversity in the military. The population of military officers from ROTC programs became more diverse by race, ethnicity, and gender from academic years 2011-2021. For example, the percentage of officers who were White men decreased by 9.4%, while the populations of Blacks or African Americans...
Nuclear Power:
NRC Needs to Take Additional Actions to Prepare to License Advanced Reactors
GAO-23-105997
Published: Jul 27, 2023
Publicly Released: Aug 24, 2023
The Nuclear Regulatory Commission licenses nuclear reactors. In the coming years, the agency expects an increase in licensing applications for advanced nuclear reactors that may provide benefits like faster and cheaper electricity production. NRC has begun updating its regulations and processes to include these reactors—but has had difficulty hiring and retaining the staff needed to license them. Although NRC has offered recruitment and retention incentives...
Job Corps:
DOL Could Improve Center Safety and Security Procedures and Assess Hiring Flexibilities for Drug Intervention Specialists
GAO-23-105589
Published: Jul 25, 2023
Publicly Released: Aug 24, 2023
The Department of Labor's Job Corps is the nation's largest residential, educational, career and technical training program for low-income youth. Illegal drugs are not allowed at Job Corps' centers, and students must be tested for drug use when they arrive. Students testing positive must receive drug intervention services—to help them understand their substance use and how to abstain from it—and be retested. Students who test...
IASB
Join the staff—Strategic Affairs Manager
Careers
25 Aug 2023
August 2023 supplementary IASB Update now available
Careers
25 Aug 2023
July 2023 Accounting Standards Advisory Forum meeting summary now available
22 Aug 2023
Join the staff—Financial Controller, Americas
Careers
22 Aug 2023
IFRS Foundation Trustees announce two senior role changes
Appointments
21 Aug 2023
IRS
IRS announces administrative transition period for new Roth catch up requirement; catch-up contributions still permitted after 2023
IR-2023-155, Aug. 25, 2023 — Today, the IRS announced an administrative transition period that extends until 2026 the new requirement that any catch-up contributions made by higher income participants in 401(k) and similar retirement plans must be designated as after-tax Roth contributions.
Interest rates increase for the fourth quarter 2023
IR-2023-154, Aug. 25, 2023 — The Internal Revenue Service today announced that interest rates will increase for the calendar quarter beginning Oct.1, 2023.
Treasury and IRS issue proposed regulations on reporting by brokers for sales or exchanges of digital assets; new steps designed to end confusion, help taxpayers, aid high-income compliance work
IR-2023-153, Aug. 25, 2023 — The Department of the Treasury and the Internal Revenue Service today issued proposed regulations that would require brokers to report sales and exchanges of digital assets by customers.
Reminder to employers and employees: Educational assistance programs can be used to help pay workers’ student loans; free IRS webinar will offer details
IR-2023-152, Aug. 24, 2023 — With the fall college semester quickly approaching, the Internal Revenue Service today reminded employers and employees that under federal law, employers who have educational assistance programs can use them to help pay student loan obligations for their employees.
NYC
Michael Smilowitz Appointed Department of Finance General Counsel
August 21, 2023
PCAOB
Martin C. Schmalz Named PCAOB Chief Economist and Director of Its Office of Economic and Risk Analysis
Aug. 28, 2023
SEC
SEC Charges LA-Based Media and Entertainment Co. Impact Theory for Unregistered Offering of NFTs
2023-163
Washington D.C., Aug. 28, 2023 — The Securities and Exchange Commission today charged Impact Theory, LLC, a media and entertainment company headquartered in Los Angeles, with conducting an unregistered offering of crypto asset securities in the form of purported non-fungible tokens (NFTs). Impact Theory raised approximately $30 million from hundreds of investors, including investors across the United States, through the offering.
SEC Announces First Fee Rate Advisory for Fiscal Year 2024
2023-162
Washington D.C., Aug. 25, 2023 — The Securities and Exchange Commission today announced that the fees that public companies and other issuers pay to register their securities with the Commission will increase from $110.20 per million dollars to $147.60 per million dollars, effective Oct. 1. The new fee rate will be applicable to the registration of securities under Section 6(b) of the Securities Act of 1933, the repurchase of securities under Section 13(e) of the Securities Exchange Act of 1934, and proxy solicitations and statements in corporate control transactions under Section 14(g) of the Securities Exchange Act of 1934.
SEC Awards Whistleblower More Than $18 Million
2023-161
Washington D.C., Aug. 25, 2023 — The Securities and Exchange Commission today announced an award of more than $18 million to a whistleblower whose information and assistance led to a successful SEC enforcement action.
SEC Charges 3M with Foreign Corrupt Practices Act Violations Relating to China Subsidiary
2023-160
Washington D.C., Aug. 25, 2023 — The Securities and Exchange Commission today announced that 3M Company agreed to pay more than $6.5 million to resolve charges that it violated the books and records and internal controls provisions of the Foreign Corrupt Practices Act (FCPA).
Wells Fargo Settles with SEC for Charging Excessive Advisory Fees
2023-159
Washington D.C., Aug. 25, 2023 — The Securities and Exchange Commission today charged Wells Fargo Clearing Services LLC and Wells Fargo Advisors Financial Network LLC (collectively, Wells Fargo) for overcharging more than 10,900 investment advisory accounts more than $26.8 million in advisory fees. Wells Fargo agreed to pay a $35 million civil penalty to settle the SEC’s charges.
SEC Charges Former Attorney at U.S.-Based Global Law Firm with Insider Trading
2023-158
Washington D.C., Aug. 23, 2023 — The Securities and Exchange Commission today announced insider trading charges against Romero Cabral da Costa Neto for trading based on material, nonpublic information concerning a client of the global law firm where he worked as a visiting attorney from Brazil.
SEC Charges Former New Jersey Corrections Officer with Crypto Fraud Scheme Targeting Law Enforcement Personnel 2023-157
Washington D.C., Aug. 23, 2023 — The Securities and Exchange Commission today charged former New Jersey State Correctional Police Officer John A. DeSalvo with fraudulently raising funds through the unregistered offering of the Blazar Token, a crypto asset security he created but that collapsed in May 2022. The SEC also charged DeSalvo with misappropriating investor funds, much of which he sent to his personal crypto asset wallets and used to pay for a bathroom renovation.
SEC Reopens Comment Period for Enhanced Safeguarding Rule for Registered Investment Advisers Proposal
2023-156
Washington D.C., Aug. 23, 2023 — The Securities and Exchange Commission today reopened the comment period on its proposed rule that would redesignate and amend the current custody rule under the Investment Advisers Act of 1940 to enhance protections of customer assets managed by registered investment advisers, which was proposed by the Commission on February 15, 2023. The initial comment period ended on May 8, 2023.
SEC Enhances the Regulation of Private Fund Advisers
2023-155
Washington D.C., Aug. 23, 2023 — The Securities and Exchange Commission today adopted new rules and rule amendments to enhance the regulation of private fund advisers and update the existing compliance rule that applies to all investment advisers. The new rules and amendments are designed to protect private fund investors by increasing transparency, competition, and efficiency in the private funds market.
SEC Adopts Amendments to Exemption From National Securities Association Membership
2023-154
Washington D.C., Aug. 23, 2023 — The Securities and Exchange Commission today adopted rule amendments that narrow the exemption from Section 15(b)(8) of the Securities Exchange Act of 1934, which requires any broker or dealer registered with the Commission to become a member of a national securities association unless the broker or dealer effects transactions in securities solely on an exchange of which it is a member. The Financial Industry Regulatory Authority Inc. (FINRA) currently is the only registered national securities association.
TIGTA
Processing of Recovery Rebate Credit Claims During the 2022 Filing Season
August 24, 2023
Report Number 2023-47-056