AICPA
Report
March 28, 2025
As required by law, CBO reports on whether appropriations enacted for the current fiscal year have exceeded the statutory caps on discretionary funding. In CBO’s estimation, they have not, and a sequestration will not be required for 2025.
Cost Estimate
March 28, 2025
As ordered reported by the House Committee on Transportation and Infrastructure on February 26, 2025
Cost Estimate
March 28, 2025
As reported by the House Committee on the Judiciary on March 25, 2025
Cost Estimate
March 28, 2025
As ordered reported by the Senate Committee on Indian Affairs on March 5, 2025
Cost Estimate
March 27, 2025
As ordered reported by the Senate Committee on Indian Affairs on March 5, 2025
Report
March 27, 2025
Extending the 10-year budget projections it published on January 17, 2025, CBO projects that federal debt held by the public, boosted by sustained deficits, will grow far beyond any previously recorded level over the next 30 years.
Report
March 26, 2025
CBO estimates that if the debt limit remains unchanged, the government’s ability to borrow using established "extraordinary measures" will probably be exhausted in August or September 2025.
Cost Estimate
March 26, 2025
The Majority Leader of the House of Representatives announces bills that will be considered under suspension of the rules in that chamber. CBO estimates the effects of those bills on direct spending and revenues.
Cost Estimate
March 25, 2025
As ordered reported by the House Committee on the Judiciary on March 5, 2025
Cost Estimate
March 24, 2025
As ordered reported by the House Committee on Ways and Means on February 26, 2025
Cost Estimate
March 24, 2025
As ordered reported by the House Committee on Ways and Means on February 26, 2025
Cost Estimate
March 24, 2025
As ordered reported by the House Committee on Transportation and Infrastructure on February 26, 2025
Cost Estimate
March 24, 2025
As passed by the Senate on March 14, 2025
GAO-25-107164
Published: Mar 27, 2025 . Publicly Released: Mar 27, 2025 .
In 2023, the State Department's processing of passport applications took weeks longer than usual. As a result, some people had to change or cancel travel plans. Causes of the delays included a record number of applications as well as staff shortages stemming from a 2017 hiring freeze. To resolve the backlog, State required passport staff to work up to 24 hours of overtime per month...
Small Business Pilot Program:
SBA Has Opportunities to Evaluate Outcomes and Enhance Fraud Risk Mitigation
GAO-25-107067
Published: Mar 27, 2025 . Publicly Released: Mar 27, 2025According to the Small Business Administration, minorities, women, tribal, and other communities have faced barriers to accessing grants, loans, and training to start and grow businesses. In 2021, SBA launched the Community Navigator Pilot Program, partnering with local organizations to broaden access to these resources. SBA data suggests the program served a higher proportion of these groups compared to other SBA business assistance programs. But...
GAO-25-108189
Published: Mar 27, 2025 . Publicly Released: Mar 27, 2025 .
The Bureau of International Narcotics and Law Enforcement Affairs has received billions in funding in recent years to keep Americans safe by protecting the border and countering crime, illegal drugs, and instability abroad. This testimony discusses our prior work, such as challenges the bureau faced in determining the effectiveness of assistance it provides in foreign countries. For example, we found that the bureau was unable...
GAO-25-107995
Published: Mar 26, 2025 . Publicly Released: Mar 26, 2025 .
U.S. and foreign banking regulators work together to develop international capital standards for large banks through the Basel Committee on Banking Supervision. The Committee issued final Basel III standards in 2017 and 2019. U.S. regulators and the Committee aimed to limit variability in the way banks calculate risks under the capital standards to produce more comparable measures. U.S. regulators also aimed to better align the...
Published: Mar 26, 2025 . Publicly Released: Mar 26, 2025 .
The Patient-Centered Outcomes Research Institute is a federally funded, nonprofit corporation. It was established to fund and evaluate research aimed at helping patients, doctors, and policymakers make better health care decisions. This institute is required to have its financial statements audited annually, and we're required to review those audits. The institute's auditor issued an unmodified (clean) opinion on its FY 2024 financial statements, concluding that...
GAO-25-107315
Published: Mar 26, 2025 . Publicly Released: Mar 26, 2025 .
Some federal grant recipients pass some of their award funding to subrecipients. However, there have been issues with the completeness and accuracy of information about these subawards. This can make it challenging to track where subaward funds are ultimately spent. While grant recipients are responsible for overseeing their subawards, federal agencies must ensure that they are effectively doing so. This includes reviewing audit findings and...
GAO-25-108216
Published: Mar 25, 2025 . Publicly Released: Mar 25, 2025
We testified about how to improve the federal approach to disaster recovery. In 2018, there were 14 disasters in the U.S. that caused more than $1 billion in damages. In 2024, there were 27. This increase has severely strained federal recovery efforts and highlighted recovery issues we've identified. For example, more than 30 federal entities assist with recovery—with different programs and requirements. This fragmented approach...
GAO-25-108225
Published: Mar 25, 2025 . Publicly Released: Mar 25, 2025 .
We testified that the Navy hasn't increased the number of ships in its fleet over the past 20 years—despite nearly doubling its shipbuilding budget. Its acquisition practices consistently result in growing costs and delivery delays. For example, the Navy's frigate program began construction before completing ship design and expects the first ship to deliver at least 3 years late. As adversary threats grow, the Navy...
GAO-25-106369
Published: Mar 24, 2025 . Publicly Released: Mar 24, 2025 .
Federal agencies must address the risks and challenges that come with their move to cloud computing. What lessons can they learn from the private sector? We surveyed 18 companies about their practices in areas that pose key cloud computing challenges: acquisition, cybersecurity, and workforce development. The companies shared 19 leading practices in these areas, such as negotiating clear terms and agreements for cloud services and...
GAO-25-107267
Published: Mar 24, 2025 . Publicly Released: Mar 24, 2025 .
The Small Business Administration made or guaranteed more than $1 trillion in loans and grants to over 10 million small businesses during the pandemic. SBA used a four-step process for managing fraud risks in the COVID-19 Economic Injury Disaster Loan program. One step was to refer likely fraudulent applications to its inspector general for investigation. But the IG was unable to fully investigate nearly 2...
Published: Mar 20, 2025 . Publicly Released: Mar 20, 2025 .
The Office of Personnel Management's Pathways Programs serve as a pipeline for bringing young employees into the federal government. But the programs have seen a 64% decrease in the number of hires since FY 2013. Although efforts have increased the number of hires, OPM should do more to improve the programs, including: Getting more data on year-to-year hiring fluctuations Collecting feedback from program participants Looking...
GAO-25-107159
Published: Mar 20, 2025 . Publicly Released: Mar 20, 2025 .
U.S. ports are critical to the economy, handling trillions of dollars in trade each year. Protecting them from natural disasters like floods and hurricanes is key to ensuring goods can move reliably through the supply chain. Federal agencies offer funding to improve ports' natural disaster resilience. But the amount of funding used specifically for resilience-related projects at ports is unknown. Each port has primary responsibility...
GAO-25-107250
Published: Mar 20, 2025 . Publicly Released: Mar 20, 2025 .
The Federal Deposit Insurance Corporation insures over $10 trillion in deposits and protects your money if your FDIC-insured bank fails. We audit and issue opinions annually on financial statements of FDIC's insurance funds and on related internal controls (e.g., processes to reasonably assure that transactions are properly authorized and recorded). We found the statements were reliable and controls over financial reporting were effective in 2024.
GASB
March 24, 2025
IASB
March 2025 IFRS for SMEs Accounting Standard Update now available
31 Mar 2025
New webcast series: Sustainability-related risks and opportunities and the disclosure of material information
31 Mar 2025
March 2025 IFRS Taxonomy Consultative Group meeting summary now available
31 Mar 2025
April 2025 International Accounting Standards Board agenda and meeting papers now available
28 Mar 2025
26 Mar 2025
25 Mar 2025
25 Mar 2025
25 Mar 2025
March 2025 ISSB Update and podcast now available
24 Mar 2025
IRS
IR-2025-38, March 28, 2025 — The Earned Income Tax Credit has played a crucial role in helping millions of low-to-moderate income workers out of poverty. Saturday, March 29, 2025, marks the 50th anniversary of this important credit.
IR-2025-37, March 25, 2025 — As the end of tax season approaches, the Internal Revenue Service reminds taxpayers that IRS Free File is a quick and easy way to file federal tax returns for free.
IR-2025-36, March 24, 2025 — The Internal Revenue Service issued a series of tips and reminders to speed taxpayer refunds and avoid errors on their federal tax returns as the April 15 filing deadline approaches.