As ordered reported by the Senate Committee on Commerce, Science, and Transportation on February 5, 2025
March 17, 2025
FASB
SEC Accepts 2025 FASB Taxonomies
March 18, 2025
GAO
GAO-25-107531
Published: Mar 20, 2025 . Publicly Released: Mar 20, 2025 .
DOD established a pilot program to award certain contracts, without competition, to companies organized as “employee stock ownership plans.” ESOPs provide people with direct ownership of the company they work for and other benefits. DOD's guidance on the pilot didn't give contracting officers enough information to determine whether companies were eligible for the program. As a result, DOD awarded a contract to an ineligible company...
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.
GAO-25-106658
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-25-107050
Published: Mar 19, 2025 . Publicly Released: Mar 19, 2025 .
The General Services Administration is the main landlord and leasing agent for the federal government. In 2024, GSA managed about 7,500 leases for federal agencies and received around $6 billion in rent payments. GSA uses commercial real-estate brokers to help save money during the leasing process. For example, brokers can negotiate lease rates and terms for federal agencies. We found that in recent years, brokers...
Gas Stoves:
Risks and Safety Standards Related to Products and Ventilation
GAO-25-107514Published: Mar 18, 2025 . Publicly Released: Mar 18, 2025 .Millions of Americans use gas stoves, which can produce emissions that may pose health risks. In this Q&A, we reviewed how industry, standards development organizations, and federal agencies are working to improve gas stove safety. Some of these groups have initiated research and safety efforts. For example, there are ongoing studies of indoor air quality and research projects for improving vent hoods and exhaust fans...
GAO-25-107930
Published: Mar 18, 2025 . Publicly Released: Mar 18, 2025 .
We audit and issue opinions annually on IRS's financial statements and related internal controls (e.g., processes to reasonably assure that transactions are properly authorized and recorded). Our FY 2024 audit identified 5 new deficiencies in internal controls, including in how IRS manages IT system security. Our recommendations address these issues. Despite the new deficiencies, IRS made significant progress during FY 2024 in addressing the prior...
GASB
17 Mar 2025
17 Mar 2025
IRS
IR-2025-35, March 19, 2025 — Gary Shapley has been named deputy chief for IRS Criminal Investigation (IRS-CI), starting March 19. In his new role, Shapley will oversee 20 field offices and 14 foreign posts, including more than 2,000 special agents investigating tax fraud and other financial crimes.
NYS
March 19, 2025
PCAOB
2025-56
Washington D.C., March 20, 2025 — The Securities and Exchange Commission today announced the agenda and panelists for the March 27 roundtable on artificial intelligence in the financial industry.
2025-55
Washington D.C., March 17, 2025 — The Securities and Exchange Commission today announced that it has filed charges against David Yow Shang Chiueh of East Hanover, New Jersey and his investment advisory firm, Upright Financial Corp., for misconduct and for investing more than 25 percent of Upright Growth Fund’s assets in a single company over multiple years, causing losses of $1.6 million.