AICPA
AICPA & CIMA launch new climate resilience accounting resource
July 23, 2023
CIMA partners with ICAZ to elevate the accounting and finance profession in Zimbabwe
July 23, 2023
CBO
Blog Post
Director’s Statement on ReappointmentIn a statement, CBO Director Phillip Swagel thanked Speaker McCarthy and President pro tempore Murray for appointing him to a second term and said he is excited to continue the important work that he has been part of these past four years.
Cost Estimate
H.R. 3938, Build It in America ActAs reported by the House Committee on Ways and Means on June 30, 2023
Report
Purposes and Uses of Special and Incentive Pay for Military PersonnelCBO analyzes funding for special and incentive pay for active-duty service members in the Army, Navy, Air Force, and Marine Corps and explores how those types of pay have been used to address personnel shortfalls.
Report
Request for a Cost Estimate for the Primary Care and Health Workforce Expansion ActCBO is currently reviewing the Primary Care and Health Workforce Expansion Act. The legislation’s provisions are complex, and analyzing them will take many weeks. CBO will share estimates of individual provisions as they are available.
Cost Estimate
S. 412, SHIELD Act of 2023As reported by the Senate Committee on the Judiciary on May 17, 2023
Presentation
CBO’s Long-Term Projections of Labor Force Participation RatesPresentation by Julie Topoleski, the director of CBO’s Labor, Income Security, and Long-Term Analysis Division, at the NBER’s Summer Institute 2023: Economics of Social Security.
Report
An Update to the Economic Outlook: 2023 to 2025In CBO’s latest projections, economic growth slows and then picks up over the 2023–2025 period. That initial slowdown in economic growth drives up unemployment. Inflation continues to gradually decline.
Cost Estimate
S. 1886, Pray Safe Act of 2023As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on June 14, 2023
Report
Testimony on Approaches to Reducing the Department of Defense’s Compensation CostsDavid E. Mosher, CBO's Director of National Security Analysis, testifies before the Senate Armed Services Committee's Subcommittee on Personnel.
Blog Post
A Call for New Research in the Area of Taxes and TransfersTo enhance its work for the Congress, CBO is looking for new research on how changes in federal policy affect different households, and how taxes affect the way businesses are legally structured.
Cost Estimate
H.R. 1695, Strengthening Agency Management and Oversight of Software Assets ActAs ordered reported by the House Committee on Oversight and Accountability on July 12, 2023
Cost Estimate
H.R. 2627, Increasing Investor Opportunities ActAs ordered reported by the House Committee on Financial Services on May 24, 2023
Cost Estimate
H.R. 3565, Spectrum Auction Reauthorization Act of 2023As ordered reported by the House Committee on Energy and Commerce on May 24, 2023
Cost Estimate
H.R. 4090, Fire Grants and Safety Act of 2023As ordered reported by the House Committee on Science, Space, and Technology on June 21, 2023
Cost Estimate
S. 843, a bill to amend the Infrastructure Investment and Jobs Act to authorize the use of funds for certain additional Carey Act projects, and for other purposesAs reported by the Senate Committee on Energy and Natural Resources on July 19, 2023
Blog Post
A Call for New Research in the Area of National SecurityTo enhance its work for the Congress, CBO is looking for new research on the implications of the military’s use of in-kind compensation, and on the causes and future evolution of sector-specific inflation.
Cost Estimate
Preliminary Estimate of Modernizing and Ensuring PBM Accountability Act Discussion Draft As posted on July 24, 2023
FAF
Financial Accounting Foundation Seeks Nominations for the Financial Accounting Standards Advisory Council
July 24, 2023
GAO
Over-the-Counter Drugs:
Status of FDA's Implementation of Exclusivity Provisions in the CARES Act
GAO-23-106570
Published:
Publicly Released: In July 2020, we reported that the CARES Act gave the Food and Drug Administration new tools to regulate over-the-counter drugs like sunscreen and cold medicine. It included a provision offering 18 months of exclusive marketing rights for drugs with new uses or innovative active ingredients. As of May 2023, however, no companies had requested approval for over-the-counter drug innovations. FDA is still preparing to...
Leading Practices:
Iterative Cycles Enable Rapid Delivery of Complex, Innovative Products
GAO-23-106222
Published:
Publicly Released:
Agencies are increasingly investing in products that combine hardware and software—"cyber-physical systems"—to meet their mission needs. Traditional acquisition processes don't support speedy delivery of these systems. Leading companies get these kinds of systems to market quickly using iterative design, testing, and feedback processes. For example, data from simulations and tests are recorded in a "digital thread"—a tool that product teams can access in real time...
Personnel Vetting:
DOD Should Improve Management and Operation of Its Background Investigation Working Capital Fund
GAO-23-105812
Published:
Publicly Released: The Department of Defense conducts background checks for over 4 million employees and contractors across the federal government. It finances the background checks by charging fees to other agencies through a working capital fund—a self-sustaining fund that breaks even over time. DOD must maintain a cash reserve in the fund to cover operational costs for the background checks. But it overestimated how much money it...
Cybersecurity Workforce:
National Initiative Needs to Better Assess Its Performance
GAO-23-105945
Published:
Publicly Released: The National Institute of Standards and Technology leads a national initiative to help agencies and private sector organizations strengthen their cybersecurity workforces. NIST has documented the skills needed for a cybersecurity workforce; set up collaborative, public-private groups to build a cybersecurity community; and held meetings and conferences to share information. Having a well-trained cybersecurity workforce is a key government priority. So, it's important that NIST...
Military Housing:
Army Should Improve Inspection Oversight and Long-Term Capital Investment Projections
GAO-23-105983
Published:
Publicly Released: Private-sector companies own and operate about 99% of homes at U.S. military installations. Lendlease—a private housing company—plans to invest $1.1 billion to expedite housing improvements across its 6 Army housing projects by 2027. Development plans include renovating 12,000 homes, building 1,200 new homes, and demolishing 1,000 old homes. Lendlease sent required reports to the Army, which monitors housing improvements, but reports didn't include some inspection...
Older Workers:
Retirement Account Disparities Have Increased by Income and Persisted by Race Over Time
GAO-23-105342
Published:
Publicly Released: Congress is concerned that federal tax incentives for workers to save in tax-preferred retirement accounts are going mostly to higher income workers—and are doing little to help low-income workers save for retirement. We found that: Disparities between low-income and high-income older workers households' (ages 51-64) retirement accounts were greater in 2019 than in 2007. 1 in 10 low-income households had a retirement account balance in...
Coast Guard Acquisitions:
Polar Security Cutter Needs to Stabilize Design Before Starting Construction and Improve Schedule Oversight
GAO-23-105949
Published:
Publicly Released: The Coast Guard's only active heavy polar icebreaker, the aging Polar Star , primarily helps ensure U.S. access to Antarctica. The Coast Guard is working to design and build 3 Polar Security Cutters to replace it. The U.S. hasn't built a heavy polar icebreaker in almost 50 years, creating challenges with designing and understanding how to build the cutters. Challenges—such as designing the hull to...
Tax Enforcement:
IRS Audit Processes Can Be Strengthened to Address a Growing Number of Large, Complex Partnerships
GAO-23-106020
Published:
Publicly Released: More businesses have been organizing as partnerships. This allows them to pass income and losses to their partners instead of being taxed as corporations. Between 2002 and 2019, the number of large partnerships—with over $100 million in assets and 100 or more partners—increased almost 600%. The IRS audit rate for large partnerships has dropped to less than 0.5% since 2007. About 80% of audits conducted...
Coast Guard Recapitalization:
Actions Needed to Better Manage Acquisition Programs and Address Affordability Concerns
GAO-23-106948
Published:
Publicly Released: The Coast Guard is modernizing its ships by investing billions of dollars in its highest priority programs. We testified on our prior reports about programs that continue to face delays and rising costs—partly because the Coast Guard didn't have the right information about technology, design, or cost at key decision points. For example, the Coast Guard aims to buy 25 new ships for offshore missions...
VA Health Care:
Office of the Medical Inspector Should Strengthen Oversight of Recommendations and Assess Performance
GAO-23-105634
Published:
Publicly Released: VA's Office of the Medical Inspector investigates concerns about the quality of health care that the VA provides to veterans, such as reports of understaffing or improper patient scheduling practices in VA facilities. Most of the cases result in recommendations. But the office relies on one staff person to decide if recommendations have been met—which means it could close recommendations without knowing if the VA...
GSA Commercial Platforms Program:
Opportunities Exist to Improve Implementation
GAO-23-106128
Published:
Publicly Released: The General Services Administration developed an "online marketplace program" to make it easier for federal agencies to buy commercially available products like office supplies. Agencies are increasingly participating in this marketplace, and have reported that buying items is easy and saves time and money. We found areas where this program could improve. For example, the Small Business Act requires agencies to set goals to purchase...
Defense Management:
DOD Challenges with Travel Programs and Business Process Reforms
GAO-23-106945
Published:
Publicly Released: This testimony discusses our work on the challenges that the Department of Defense has faced with reforming its IT travel system. For almost two decades, we've been reporting on DOD's challenges with the IT system it uses to reimburse employees for job-related travel. For example, in 2019 we found that the system didn't allow the officials who were responsible for approving travel reimbursements to view...
VA Disability Exams:
Opportunities Remain to Improve Program Planning and Oversight
GAO-23-106939
Published:
Publicly Released: The Department of Veterans Affairs may require medical exams to determine veterans' eligibility for disability compensation. The COVID-19 pandemic contributed to a backlog of these exams. This testimony discusses VA's and contracted examiners' efforts to manage workloads. Poor communication and oversight may hinder these efforts. For example, VA gave wrong information to contractors on "temporary license portability"—leading to unauthorized providers giving exams in states where...
Professional Standards Update No. 89
Published:
Publicly Released:
Transit Security:
FEMA Should Improve Transparency of Grant Decisions
GAO-23-105956
Published:
Publicly Released:
The Federal Emergency Management Agency's Transit Security Grant Program is designed to help public transit agencies protect people and critical infrastructure from terrorism. Public transit agencies apply to FEMA for security improvement grants. In its "Notice of Funding Opportunity," FEMA disclosed its process for reviewing and scoring applications. But we found that FEMA didn't always follow that process, favoring some lower-scoring applications in 2015-2021. This...
VA Disability Benefits:
Actions Needed to Further Examine Racial and Ethnic Disparities in CompensationGAO-23-106097
Published:
Publicly Released: The Veterans Benefits Administration provided more than $112 billion in disability benefits to about 5.4 million veterans and their families in FY 2022. The agency has faced longstanding challenges managing claims and has been on our High Risk List since 2003. Our analysis of agency disability compensation from 2010 through 2020 found that Non-Hispanic Black veterans had the lowest approval rates among all racial and...
Hanford Cleanup:
DOE Should Consider Including Expedited Nuclear Waste Treatment Alternatives in Upcoming Analysis
GAO-23-106151
Published:
Publicly Released: The Department of Energy must treat 54 million gallons of radioactive waste that it is holding in aging and leak-prone underground storage tanks in Hanford, Washington. DOE also has to develop plans every few years that model and evaluate different waste treatment options. DOE has been working to find effective alternatives to deal with the waste—including speeding up treatment. However, the agency hasn't fully evaluated...
Merchant Mariner Credentialing:
Coast Guard Performance Measures Could Better Address Mariners' Needs
GAO-23-106629
Published:
Publicly Released: Merchant mariners are civilian sailors that the Coast Guard certifies to work on U.S. commercial or private cargo ships. These mariners can be called to help the military in national emergencies and wars. This Q&A report examines the Coast Guard's mariner credentialing process, covering: Numbers and types of applications received Processing times and factors affecting them Recent and planned improvements to make the process faster...
Defense Workforce:
Opportunities for more Effective Management and Efficiencies
GAO-23-106966
Published:
Publicly Released: The Department of Defense is one of the nation's largest employers, with almost 3 million military and civilian employees and $205 billion in contracts for services. This testimony discusses our work on DOD's workforce issues. Specifically, we've looked at ways to address: Military recruitment and retention challenges Shortfalls in strategic planning for the civilian workforce DOD's lack of information about the contract workforce to make...
Coast Guard:
Clarifying Emergency Policies and Assessing Needs Could Improve Unit Disaster Preparedness
GAO-23-106409
Published:
Publicly Released: Hundreds of Coast Guard field units are stationed along the coasts and major waterways across the country. Many of these units lead Coast Guard's disaster response, sending teams out on search-and-rescue and other missions after natural or man-made disasters. Without emergency food and water on hand, these units may become disaster victims themselves—making it harder to help others. Of the 32 units we surveyed, 20...
Open Matters for Congressional Consideration:
Action Can Produce Billions of Dollars in Financial and Other Benefits for the Nation
GAO-23-106837
Published:
Publicly Released: Since 2000, we've recommended that Congress consider more than 1,100 ways to address problems that we identified. Of those, 218 remain open as of June 2023. To help Congress, we've catalogued the open matters in this report. Addressing them can lead to significant benefits. For example, in 2015, we found that when hospitals acquired physician practices, physician services were used more in hospital settings. Because...
Affordable Housing:
HUD Could Improve Use of Data for the Self-Help Homeownership Opportunity Program
GAO-23-106628
Published: . Publicly Released: .The Department of Housing and Urban Development runs a program that offers grants to eligible nonprofits to help develop housing units for low-income buyers. Buyers are expected to contribute "sweat equity" to the project by helping to build their own homes. Our Q&A report and recommendation look at HUD's management of the program, specifically its use of data to make decisions. For example, market data...
Law Enforcement:
DHS Should Strengthen Use of Force Data Collection and Analysis
GAO-23-105927
Published: . Publicly Released: .
As part of a larger federal effort to strengthen trust in law enforcement, the Department of Homeland Security amended its use of force policy to enhance its oversight efforts and to reflect principles of valuing and preserving human life. In May 2022, DHS started collecting use of force data from its law enforcement agencies. But the agencies sometimes included multiple uses of force in a...
Unemployment Insurance:
DOL Needs to Further Help States Overcome IT Modernization Challenges
GAO-23-105478
Published: . Publicly Released: .
The Department of Labor oversees unemployment insurance—distributing funds to states, who then provide these funds to eligible people within their state. During the COVID-19 pandemic, some states had trouble processing unemployment insurance claims due to issues with their IT systems—some of which are about 50 years old. DOL is helping states modernize these systems by, for example, sending experts to evaluate them and recommend improvements...
403(b) Retirement Plans:
Department of Labor Should Update Educational Materials to Better Inform Plan Sponsors and Participants
GAO-23-105620
Published: . Publicly Released: .
Millions of teachers and employees at non-profits rely on 403(b) plans for their retirement savings. These individual account-based plans let participants make investment decisions and bear risk. Federal agencies, like the Department of Labor, oversee these plans. DOL also provides educational materials to plan sponsors and participants. However, we found that DOL's website contains little educational material specific to 403(b) plans—such as information to help...
IASB
Watch a new webcast on connections between accounting and sustainability disclosures
Webcast
31 July 2023
July 2023 ISSB Update now available
Update
28 July 2023
Call for new members in Africa to join the Global Preparers Forum in November 2023
Careers
28 July 2023
Join the staff—Sustainability Manager
Careers
27 July 2023
ISSB consults on proposed digital taxonomy to improve global accessibility and comparability of sustainability information
Consultation
27 July 2023
IASB completes technical work on two new IFRS Accounting Standards
Announcement
26 July 2023
Erkki Liikanen comments on IOSCO endorsement of ISSB Standards
Speech
25 July 2023
IFRS Sustainability Disclosure Standards endorsed by international securities regulators
Announcement
25 July 2023
IRS
IRS selects new Chief Transformation and Strategy Officer to lead change efforts under the Inflation Reduction Act; David Padrino to oversee Strategic Operating Plan work to help taxpayers, drive agency improvements
IR-2023-137, July 28, 2023 — Today, the IRS announced the selection of David Padrino to serve as the Chief Transformation and Strategy Officer, a recently created role at the agency that will spearhead improvement efforts under Inflation Reduction Act funding.
IRS invites public input on ways to improve dispute resolution programs; suggestions wanted
IR-2023-136, July 27, 2023 — The Internal Revenue Service today invited public input on improvements to certain post-filing alternative dispute resolution (ADR) programs currently offered to taxpayers.
IRS Commissioner signals new phase of Employee Retention Credit work; with backlog eliminated, additional procedures will be put in place to deal with growing fraud risk
IR-2023-135, July 26, 2023 — With the IRS making substantial progress in the ongoing effort related to the Employee Retention Credit claims, Commissioner Danny Werfel said the agency has entered a new phase of increasing scrutiny on dubious submissions while renewing consumer warnings against aggressive marketing.
Security Summit: Identity Protection PINs are an important tool against tax-related identity theft
IR-2023-134, July 25, 2023 — In the second installment in a special summer series, the Security Summit partners today reminded tax professionals and taxpayers about the IRS Identity Protection PIN Opt-In Program to help protect people against tax-related identity theft.
NYS
Department Of Financial Services Takes Possession of Yonkers Postal Employees Credit Union and Appoints NCUA as Conservator
July 28, 2023
Superintendent Adrienne A. Harris Combats Discrimination By Life Insurance Companies That Offer Multiple Versions of the Same Product
July 17, 2023
PCAOB
Following Sweep, PCAOB Sanctions Five Firms for Violating PCAOB Rules and Standards Related to Audit Committee Communications
Jul. 28, 2023
369 Students Named PCAOB Scholars for the 2023-2024 Academic Year
Jul. 27, 2023
Chair Williams Statement on Rise in Audit Deficiency Rates
Jul. 25, 2023
PCAOB Report: Audits With Deficiencies Rose for Second Year In a Row to 40% in 2022
Jul. 25, 2023
Eric Hagopian, Chief Information and Data Officer, to Leave the PCAOB
Jul. 21, 2023
SEC
SEC Charges Hex Founder Richard Heart with Misappropriating Millions of Dollars of Investor Funds from Unregistered Crypto Asset Securities Offerings that Raised more than $1 Billion
2023-143
Washington D.C., July 31, 2023 — The Securities and Exchange Commission today charged Richard Heart (aka Richard Schueler) and three unincorporated entities that he controls, Hex, PulseChain, and PulseX, with conducting unregistered offerings of crypto asset securities that raised more than $1 billion in crypto assets from investors. The SEC also charged Heart and PulseChain with fraud for misappropriating at least $12 million of offering proceeds to purchase luxury goods including sports cars, watches, and a 555-carat black diamond known as ‘The Enigma’ – reportedly the largest black diamond in the world.
SEC Charges Florida Resident with Operating $35 Million Ponzi Scheme that Targeted Church Members
2023-142
Washington D.C., July 27, 2023 — The Securities and Exchange Commission today charged Brent Seaman of Naples, Florida, and various entities he managed for fraudulently raising approximately $35 million from at least 60 investors through an unregistered securities offering. Many of these investors were elderly, retired, and connected to a Naples church where Seaman was an active member.
SEC Proposes Reforms Relating to Investment Advisers Operating Exclusively Through the Internet
2023-141
Washington D.C., July 26, 2023 — The Securities and Exchange Commission today proposed amendments to the rule permitting certain investment advisers that provide investment advisory services through the internet to register with the Commission. The proposed amendments generally would require an investment adviser relying on the internet adviser registration rule to have at all times an operational interactive website through which the adviser provides digital investment advisory services on an ongoing basis to more than one client. The proposed amendments would also eliminate the de minimis exception from the current rule by proposing to require that an internet investment adviser provide advice to all of its clients exclusively through an operational interactive website, and make certain corresponding changes to Form ADV.
SEC Proposes New Requirements to Address Risks to Investors From Conflicts of Interest Associated With the Use of Predictive Data Analytics by Broker-Dealers and Investment Advisers
2023-140
Washington D.C., July 26, 2023 — The Securities and Exchange Commission today proposed new rules that would require broker-dealers and investment advisers (collectively, “firms”) to take certain steps to address conflicts of interest associated with their use of predictive data analytics and similar technologies to interact with investors to prevent firms from placing their interests ahead of investors’ interests.
SEC Adopts Rules on Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure by Public Companies
2023-139
Washington D.C., July 26, 2023 —The Securities and Exchange Commission today adopted rules requiring registrants to disclose material cybersecurity incidents they experience and to disclose on an annual basis material information regarding their cybersecurity risk management, strategy, and governance. The Commission also adopted rules requiring foreign private issuers to make comparable disclosures.
SEC Charges Investor Joseph C. Lewis and Associates with Insider Trading
2023-138
Washington D.C., July 26, 2023 — The Securities and Exchange Commission today charged investor Joseph C. Lewis for illegally tipping material nonpublic information to his then-girlfriend, Carolyn W. Carter, as well as his two private pilots, Patrick J. O’Connor and Bryan L. Waugh, so that each would use this information to execute trades. The SEC also charged Carter, O’Connor, and Waugh with using that information to trade and reap combined profits of more than $545,000.
SEC Names Natasha Vij Greiner and Keith E. Cassidy Interim Acting Co-Directors of the Division of Examinations
2023-137, July 25, 2023 — The Securities and Exchange Commission today announced that Natasha Vij Greiner and Keith E. Cassidy have been named interim Acting Co-Directors of the Division of Examinations, effective immediately, while Division Director Richard Best is on extended medical leave from the agency.
TIGTA
Review of the Internal Revenue Service’s Purchase Card Violations
July 27, 2023
Review of the IRS Independent Office of Appeals Collection Due Process Program
July 21, 2023
The Customer Callback System Benefits Taxpayers; However, Performance Measures Are Not Comprehensive and More Callers Could Qualify for Callback Offers
July 21, 2023