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News

Regulatory Roundup: November 19-December 2

By:
Karen Sibayan
Published Date:
Dec 2, 2024

AICPA

Nov 18, 2024

Nov 18, 2024


CBO

Report
November 26, 2024
CBO maintains a benchmark projection of greenhouse gas (GHG) emissions to estimate the effects of certain emissions policies. According to that projection, GHG emissions in the United States decline by about 8 percent from 2025 to 2034.

Cost Estimate
November 21, 2024
As ordered reported by the House Committee on Transportation and Infrastructure on September 18, 2024

Cost Estimate
November 21, 2024
As ordered reported by the House Committee on Transportation and Infrastructure on November 15, 2023

Cost Estimate
November 21, 2024
As ordered reported by the House Committee on Transportation and Infrastructure on September 18, 2024

Cost Estimate
November 21, 2024
As ordered reported by the House Committee on Transportation and Infrastructure on September 18, 2024

Cost Estimate
November 21, 2024
As ordered reported by the House Committee on Transportation and Infrastructure on September 18, 2024

Cost Estimate
November 21, 2024
As ordered reported by the House Committee on Transportation and Infrastructure on September 18, 2024

Cost Estimate
November 21, 2024
As ordered reported by the House Committee on Transportation and Infrastructure on September 18, 2024

Cost Estimate
November 21, 2024
As ordered reported by the House Committee on Transportation and Infrastructure on November 15, 2023

Cost Estimate
November 21, 2024

As ordered reported by the House Committee on Transportation and Infrastructure on September 18, 2024

Cost Estimate
November 21, 2024

As ordered reported by the House Committee on Transportation and Infrastructure on September 25, 2024

Cost Estimate
November 21, 2024

As passed by the House of Representatives on November 18, 2024

Cost Estimate
November 21, 2024
As ordered reported by the House Committee on Transportation and Infrastructure on September 18, 2024

Cost Estimate
November 21, 2024
As ordered reported by the House Committee on Transportation and Infrastructure on September 18, 2024

Cost Estimate
November 21, 2024
As ordered reported by the House Committee on Transportation and Infrastructure on September 18, 2024

Cost Estimate
November 21, 2024
As ordered reported by the House Committee on Transportation and Infrastructure on September 18, 2024

Cost Estimate
November 21, 2024
As ordered reported by the House Committee on Transportation and Infrastructure on September 18, 2024

Cost Estimate
November 21, 2024
As ordered reported by the House Committee on Transportation and Infrastructure on September 18, 2024

Cost Estimate
November 21, 2024
As ordered reported by the House Committee on Transportation and Infrastructure on September 18, 2024

Cost Estimate
November 21, 2024

As ordered reported by the House Committee on Transportation and Infrastructure on September 18, 2024

Cost Estimate
November 21, 2024
As ordered reported by the House Committee on Transportation and Infrastructure on September 25, 2024

Presentation
November 21, 2024
Presentation by Bilal Habib, an analyst in CBO’s Tax Analysis Division, at the Association for Public Policy Analysis and Management Fall Conference.

Presentation
November 20, 2024
Presentation by Christopher Adams, an analyst in CBO’s Health Analysis Division, at the Federal Reserve Bank of Boston.

Presentation
November 20, 2024
Presentation by Jaeger Nelson, Chief of CBO’s Fiscal Studies Unit, at the 72nd Annual Economic Outlook Conference of the University of Michigan’s Research Seminar in Quantitative Economics.

Cost Estimate
November 20, 2024
As ordered reported by the House Committee on Science, Space, and Technology on June 13, 2024

Report
Since 2003, CBO has projected the Department of Defense’s costs for the 10 to 15 years beyond those covered in the Future Years Defense Program’s five-year plan. This report describes some of the methods CBO uses to make those projections.

Report
November 20, 2024
CBO analyzes the Department of Defense’s plans for 2025 to 2029 as presented in the 2025 Future Years Defense Program. Under those plans, CBO projects, defense costs would increase by 11 percent between 2029 and 2039.

Cost Estimate
November 19, 2024
As ordered reported by the House Committee on Homeland Security on September 25, 2024

Cost Estimate
November 19, 2024
As ordered reported by the House Committee on Homeland Security on September 25, 2024

Cost Estimate
November 19, 2024

As ordered reported by the House Committee on Homeland Security on September 25, 2024

Cost Estimate
November 19, 2024

As ordered reported by the House Committee on Homeland Security on September 25, 2024

Cost Estimate
November 19, 2024
As ordered reported by the House Committee on Homeland Security on September 25, 2024

Cost Estimate
November 19, 2024

As ordered reported by the House Committee on Homeland Security on September 25, 2024

Cost Estimate
November 19, 2024
As ordered reported by the House Committee on Homeland Security on September 25, 2024

Cost Estimate
November 19, 2024
As ordered reported by the House Committee on Homeland Security on September 25, 2024

Cost Estimate
November 19, 2024
As ordered reported by the House Committee on Homeland Security on September 25, 2024

Cost Estimate
November 19, 2024
As ordered reported by the House Committee on Homeland Security on September 25, 2024

Cost Estimate
November 19, 2024
As ordered reported by the House Committee on Homeland Security on September 25, 2024

Cost Estimate
November 19, 2024
As ordered reported by the House Committee on Homeland Security on September 25, 2024

Cost Estimate
November 19, 2024

As ordered reported by the House Committee on Homeland Security on September 25, 2024

Cost Estimate
November 19, 2024
As ordered reported by the House Committee on Homeland Security on September 25, 2024

Report
November 18, 2024
Of the rotary-wing aircraft operated by the Army, the Department of the Navy (DoN), and the Air Force, the Army’s are the most numerous and have had the greatest availability rates. But DoN’s aircraft have flown the most hours per aircraft.

Cost Estimate
November 18, 2024
As ordered reported by the House Committee on Ways and Means on June 27, 2024

Cost Estimate
November 18, 2024
As ordered reported by the Senate Committee on Indian Affairs
on July 25, 2024

Cost Estimate
November 18, 2024
As ordered reported by the Senate Committee on Indian Affairs
on September 25, 2024

Cost Estimate
November 18, 2024
As ordered reported by the Senate Committee on Indian Affairs
on September 18, 2024

Cost Estimate
November 18, 2024
As ordered reported by the Senate Committee on Indian Affairs
on July 25, 2024

Cost Estimate
November 18, 2024
As ordered reported by the Senate Committee on Indian Affairs on September 25, 2024

Cost Estimate
November 18, 2024

As ordered reported by the Senate Committee on Indian Affairs on September 25, 2024

FAF

November 19, 2024

November 19, 2024

FASB

November 26, 2024
 
November 25, 2024
November 25, 2024

November 19, 2024

November 18, 2024

GAO

GAO-25-107386
Published: Dec 2, 2024 . Publicly Released: Dec 2, 2024 .

Semiconductors, also called computer chips, are used to make electronics. Advanced computer chip technology can be used for AI, communication devices, weapons, and more. To protect this technology from foreign military use, the Department of Commerce issued rules in 2022 and 2023 to control its export and the equipment used to make it. This Q&A report reviews this effort. Commerce: Published the 2022 rules so...

GAO-25-106798
Published: Nov 27, 2024 . Publicly Released: Nov 27, 2024 .
In 2023, about 165 million individuals in the U.S. got their health coverage through an employer and about 16 million got coverage through Affordable Care Act Marketplaces. Comparing the costs of these plans isn't straightforward. For example, people with employer-sponsored plans pay their premiums with pre-tax dollars. People with Marketplace plans pay their premiums with after-tax dollars. Other factors (e.g., geographic area, level of coverage)...

Released on Nov 26, 2024

GAO-25-107017
Published: Nov 26, 2024 . Publicly Released: Nov 26, 2024 .
Continuous deployments over the past 2 decades have reduced the Air Force's readiness—affecting personnel, equipment, and aircraft. To rebuild readiness, the Air Force is implementing a new process to organize, deploy, and train forces. But this process has challenges. For example, the Air Force plans to eventually deploy an entire wing from an airbase rather than individuals from multiple wings and airbases. But it hasn't...

Released on Nov 25, 2024

GAO-25-106771
Published: Nov 19, 2024 . Publicly Released: Nov 25, 2024 .

Bank failures in 2023 raised questions about federal regulators' ability to promptly address unsafe banking practices. For this report, we reviewed documents from 60 institutions, interviewed 109 bank examiners, and more. We found weaknesses in regulators' processes for addressing issues. For example, Federal Deposit Insurance Corp. examiners told us managers sometimes altered their reports without consultation or documentation, potentially introducing risk of bias. Also, the...

GAO-25-106316
Published: Nov 22, 2024 . Publicly Released: Nov 22, 2024 .

This report—the first in a series—looks at how 4 agencies implemented telework and how it affected their operations, performance, and more during and after the COVID-19 pandemic. All the agencies implemented three of the four telework practices we looked for, such as establishing eligibility criteria to ensure teleworking employees are approved equitably. But some agencies haven't yet evaluated telework's effect on their ability to provide...

GAO-25-107402
Published: Nov 21, 2024 . Publicly Released: Nov 21, 2024 .
Federal agencies award research and development funds to small businesses through small business research programs. But foreign governments may try to steal their research, which can pose risks to the U.S. Agencies have taken steps to do their due diligence when awarding funds, such as getting more tools to vet business applicants. But some agencies don't have a written process on how to request more...

GAO-25-107160
Published: Nov 21, 2024 . Publicly Released: Nov 21, 2024 .
Every 10 years, the Census Bureau counts the entire population of the United States. Decision-makers use this information to apportion congressional seats and direct federal funds. The last census, in 2020, occurred during COVID-19, which disrupted the Bureau's efforts—risking the quality and accuracy of the count. We reported accuracy issues with the census, including that the Bureau estimated 14 states had significant errors in their...

GAO-25-107104
Published: Nov 21, 2024 . Publicly Released: Nov 21, 2024 .

Nearly 760,000 trips are made each weekday using Washington, D.C.'s Metro rail and bus system. In recent years, Metro's operations have come under scrutiny. Metro's Office of Inspector General is supposed to provide independent oversight of its operations, but we found some threats to that independence. For example, Metro's board doesn't have procedures to remove an IG—meaning an IG could be terminated for any reason...

GAO-25-106321
Published: Nov 21, 2024 . Publicly Released: Nov 21, 2024 .

Special Forces personnel conduct high-risk training to prepare for challenging missions. But serious accidents have raised questions about the safety of some of these activities. About 80% of the over 3,600 on-duty, non-combat accidents reported from FY 2012-2022 occurred during training. Parachute and dive training accounted for about 40% of those accidents. The U.S. Special Operations Command designated 7 training areas as high-risk, including parachuting...

GAO-25-107806
Published: Nov 21, 2024 . Publicly Released: Nov 21, 2024 .
Some local programs receive federal money to help survivors of domestic violence. We reported that the Department of Health and Human Services could do more to make sure these programs are accessible to people with disabilities. This is an "Easy Read" version of our report. Easy Read is a way some groups make their written information easier to understand. For example, Easy Read documents use...

GAO-25-107703
Published: Nov 21, 2024 . Publicly Released: Nov 21, 2024 .

Cryptography is a set of mathematical processes that can "lock," "unlock," or authenticate information. Agencies, banks, utilities, and others rely on cryptography—e.g., data encryption algorithms—to secure systems and data. Experts predict that a quantum computer capable of breaking such cryptography may exist within 10-20 years. Various federal entities have developed documents that inform a national strategy for addressing this threat. But the strategy lacks details...

GAO-25-106207
Published: Nov 21, 2024 . Publicly Released: Nov 21, 2024 .

The Department of Energy has a record of inadequate contract management, which can lead to increased acquisition costs and delays. This has raised concerns among congressional committees and others about how DOE plans for its acquisitions. We assessed how DOE implemented certain acquisition planning practices for some acquisitions. It wasn't always clear that DOE reviewed lessons learned from prior acquisitions, which is a way to...

GAO-25-107274
Published: Nov 21, 2024 . Publicly Released: Nov 21, 2024 .

As part of FY 2022 and 2023 appropriations, Members of Congress could request to designate a certain amount of funding for specific projects in their communities. While agencies often have discretion over how they award funds, Congress has directed them to distribute these funds to the designated recipients. We're tracking the funds to help ensure transparency. FY 2022 and 2023 appropriations included $24.4 billion for...

GAO-25-107549
Published: Nov 21, 2024 . Publicly Released: Nov 21, 2024 .

As part of FY 2024 appropriations, members of Congress could request to designate a certain amount of funding for specific projects in their communities. While agencies often have discretion over how they award funds, Congress has directed them to distribute these funds to the designated recipients. We're tracking these funds to help ensure transparency. FY 2024 appropriations included about $14.6 billion for 8,098 projects. This...

GAO-25-106719
Published: Nov 20, 2024 . Publicly Released: Nov 20, 2024 .

The military services use digital marketing on social media platforms—such as Facebook, X, and Instagram, among others—to inform young people about career paths and military life. But favorable views of the military are declining among Gen Z. And in FY 2023, several military services missed their recruiting goals by thousands. The services need to better manage risks to their brands, assess whether marketing efforts are...

GAO-25-106938
Published: Nov 19, 2024 . Publicly Released: Nov 19, 2024 .

The Department of Energy is responsible for cleaning groundwater contamination that poses threats to public health and the environment. At 4 sites we examined, of the 13 involved, DOE is cleaning groundwater to drinking water standards. Site officials estimated these efforts will collectively cost at least $10 billion over the next 5 decades. However, DOE doesn't have comprehensive information on cleanup progress at all 13...

GAO-25-107840
Published: Nov 19, 2024 . Publicly Released: Nov 19, 2024 .

Each year thousands of migrant children enter the U.S. without a parent or guardian. We testified on efforts to address 9 of our prior recommendations related to the Office of Refugee Resettlement's role in caring for unaccompanied children. Our recommendations included: Ensuring care providers are qualified Overseeing and monitoring care facilities Tracking services after the children are released to sponsors The agency fully addressed 5...

GAO-25-107947
Published: Nov 19, 2024 . Publicly Released: Nov 19, 2024 .

Cyberattacks can disrupt the transportation systems that many people and businesses rely on, like mass transit and freight rail. The TSA is responsible for protecting the nation's transportation sector. We testified about our work on TSA's efforts to address cybersecurity issues. For example, TSA has taken steps to bolster its cybersecurity workforce and meet workforce needs. But TSA could do more to reduce risks from...

GAO-25-107702
Published: Nov 20, 2024 . Publicly Released: Nov 19, 2024 .

Women amputees, in particular, have unique needs when they seek prosthetics. For example, there may be fewer commercially available prosthetic devices available for women. Women are also studied less than their male counterparts in prosthetic and amputee rehabilitation research. Prosthetic care is an important part of veterans health care. This statement for the Congressional Record discusses the prosthetic services the Veterans Health Administration provided to...

GAO-25-106057
Published: Nov 19, 2024 . Publicly Released: Nov 19, 2024 .

Emerging technologies—like facial recognition or AI—have rapidly increased the amount of personally identifiable information federal agencies collect, share, and use. This Q&A report examines how agencies protect the public's civil rights and civil liberties while using personal data. Some agencies have policies and procedures to guide them in these efforts. But the specifics are different across agencies because there's no government-wide laws or guidance. We...

GAO-25-107796

Published: Nov 19, 2024 . Publicly Released: Nov 19, 2024 .

GAO-25-106921
Published: Nov 18, 2024 . Publicly Released: Nov 18, 2024 .

Greenhouse gas emissions from public transportation can contribute to climate change. These can be reduced by transitioning to zero-emission (e.g., electric) buses. Their use is expected to triple by 2030. But frontline transit workers—drivers and mechanics—will need new skills to service and operate electric buses. The Federal Transit Administration has taken several steps to help address workforce needs. For example, the FTA helps transit agencies...

GAO-25-106774
Published: Nov 18, 2024 . Publicly Released: Nov 18, 2024 .

Millions of Americans—many of them children—have a rare disease. But only about 5% of the nearly 10,000 identified rare diseases have Food and Drug Administration-approved treatments. Developing rare disease drugs is challenging. The diseases aren't well understood, and small patient populations can limit clinical trial results. FDA has 18 rare disease programs to address such complexities. FDA is also implementing a new Rare Disease Innovation...

GASB

November 25, 2024

November 19, 2024

IASB 

2 Dec 2024

29 Nov 2024

29 Nov 2024

29 Nov 2024

27 Nov 2024

26 Nov 2024

26 Nov 2024

26 Nov 2024

26 Nov 2024

26 Nov 2024

25 Nov 2024
 

21 Nov 2024

19 Nov 2024
 

18 Nov 2024

IRS

IR-2024-299, Nov. 26, 2024 — The Internal Revenue Service today issued Notice 2024-85 providing transition relief for third-party settlement organizations (TPSOs), also known as payment apps and online marketplaces, regarding transactions during calendar years 2024 and 2025.

IR-2024-298, Nov. 25, 2024 —The Internal Revenue Service today reminded low- and moderate-income taxpayers that they can save for retirement now and possibly earn a tax credit in 2025 and future years.

IR-2024-297, Nov. 22, 2024 — As the nation's tax season approaches, the Internal Revenue Service is reminding people of simple steps they can take now to prepare to file their 2024 federal tax returns.

IR-2024-296, Nov. 21, 2024 — With a Nov. 22 deadline rapidly approaching for the second Voluntary Disclosure Program, the Internal Revenue Service urgently recommends that businesses review Employee Retention Credit guidelines and resolve incorrect claims soon to avoid future issues.

IR-2024-295, Nov. 21, 2024 — The Internal Revenue Service, working with the Security Summit partners, today announced a special awareness week focusing on taxpayers and tax professionals to protect sensitive financial information from identity thieves and tax scams as the holidays and the 2025 tax season approach.

IR-2024-294, Nov. 21, 2024 — The Internal Revenue Service is making it easier for taxpayers to protect their information and avoid refund delays by accepting certain e-filed tax returns that claim dependents who have already been claimed on another taxpayer’s return.

IR-2024-293, Nov. 20, 2024 — The Internal Revenue Service Advisory Council (IRSAC) today issued its annual public report, including recommendations to the IRS on new and continuing issues in tax administration.
IR-2024-292, Nov. 19, 2024 — The Department of the Treasury and the Internal Revenue Service released final regulations that will help certain entities that co-own clean energy projects access clean energy tax credits through elective pay (also commonly referred to as direct pay).

IR-2024-291, Nov. 18, 2024 — As part of International Fraud Awareness Week, the Internal Revenue Service reminds taxpayers how to report tax-related fraud in their community to protect personal and financial information from scam artists and tax schemes.

NYS

November 29, 2024

PCAOB

Nov. 21, 2024
Nov. 21, 2024
 
Nov. 20, 2024
 

Nov. 19, 2024

SEC

2024-188

Washington D.C., Nov. 27, 2024 — The Securities and Exchange Commission today announced that it updated its list of unregistered entities that use misleading information to solicit primarily non-U.S. investors, adding 14 soliciting entities, two impersonators of genuine firms, and four bogus regulators.

2024-187

Washington D.C., Nov. 25, 2024 — The Securities and Exchange Commission today announced fraud charges against Stephen Kenneth (“Ken”) Leech, the former co-chief investment officer (CIO) of registered investment adviser Western Asset Management Company LLC or WAMCO, for engaging in a multi-year scheme to allocate favorable trades to certain portfolios, while allocating unfavorable trades to other portfolios, a practice known as cherry-picking.

2024-186

Washington D.C., Nov. 22, 2024 — The Securities and Exchange Commission today announced that it filed 583 total enforcement actions in fiscal year 2024 while obtaining orders for $8.2 billion in financial remedies, the highest amount in SEC history.

2024-185 

Washington D.C., Nov. 22, 2024 — The Securities and Exchange Commission today announced that broker-dealers Webull Financial LLC, Lightspeed Financial Services Group LLC, and Paulson Investment Company, LLC have agreed to settle charges that they filed with law enforcement suspicious activity reports (SARs) that failed to include important, required information. The three broker-dealers agreed to pay $275,000 combined in civil penalties to settle the SEC’s charges.

2024-184

Washington D.C., Nov. 22, 2024 — The Securities and Exchange Commission today announced settled charges against United Parcel Service Inc. for materially misrepresenting its earnings because it failed to follow generally accepted accounting principles (GAAP) in valuing one of its worst performing businesses.   

2024-183

Washington D.C., Nov. 21, 2024 — The Securities and Exchange Commission today charged David Kushner, a resident of Boca Raton, Florida, and his company La Mancha Funding Corp. with defrauding nearly two dozen investors out of approximately $2.1 million in a series of private securities offerings. Kushner is La Mancha’s president and sole owner.

2024-181

Washington D.C., Nov. 20, 2024 — The Securities and Exchange Commission today charged Gautam Adani and Sagar Adani, executives of Adani Green Energy Ltd., and Cyril Cabanes, an executive of Azure Power Global Ltd., for conduct arising out of a massive bribery scheme. According to the SEC’s allegations, the bribery scheme was orchestrated to enable the two renewable energy companies to capitalize on a multi-billion-dollar solar energy project that the companies had been awarded by the Indian government. During the alleged scheme, Adani Green raised more than $175 million from U.S. investors and Azure Power’s stock was traded on the New York Stock Exchange