Published: Dec 15, 2025 . Publicly Released: Dec 12, 2025 .

En el 2012, Puerto Rico promulgó incentivos tributarios para fomentar la reubicación y la inversión en la isla, incluyendo tasas preferenciales sobre los ingresos por inversiones y servicios de exportación. Los residentes de Puerto Rico también pueden obtener una exención del impuesto federal sobre la renta si cumplen con ciertos requisitos. Es difícil aislar el efecto general de los incentivos en la economía de Puerto...

Published: Dec 8, 2025 . Publicly Released: Dec 12, 2025 .
In 2012, Puerto Rico enacted tax incentives to encourage relocation to and investment in Puerto Rico, including preferential tax rates on investment and export service income. Puerto Rico residents can also receive a federal income tax exemption if they meet certain requirements. The overall effect on Puerto Rico’s economy of the incentives is difficult to isolate. We found that, on average, incentive recipients were high-income...

Medical Device Recalls:
HHS and FDA Should Address Limitations in Oversight of Recall Process
GAO-26-107619Published: Dec 8, 2025 . Publicly Released: Dec 12, 2025 .The Food and Drug Administration monitors the safety of about 200,000 medical devices—such as pacemakers and joint replacements. From 2020 to 2024, nearly 4,000 of these devices needed to be recalled. Using recalled medical devices can lead to serious injury, death, or other adverse effects. FDA's oversight of the recall process includes reviewing manufacturers' recall plans and verifying that recalls were carried out according to...

The Osprey tiltrotor aircraft combines the capabilities of a helicopter with a turboprop airplane. The Marine Corps, Navy, and Air Force use the Osprey for missions that can require both aircraft types. But the Osprey has had 4 fatal accidents since 2022, resulting in 20 service member deaths and raising concerns about its safety. We found the services haven't fully resolved safety risks, like not..

Semiconductors (or chips) are critical to nearly all industries, and most are made overseas. To ensure a reliable U.S. supply, the Department of Commerce was authorized to finance projects to build or improve domestic manufacturing facilities. We looked at the projects Commerce selected, how it chose them, and how it determined funding amounts. As of July 2025, Commerce had awarded $30.9 billion across 40 projects...

As part of its goal to deliver weapon systems to the battlefield at a faster pace, the Department of Defense plans to modernize its approach to testing new systems. Plans include broader use of digital engineering tools and a highly skilled workforce. Leading companies get complex systems to market quickly using iterative testing processes. We compared these companies' practices to DOD testing policies. We found...

We testified on the General Services Administration's management of federal real property before the House Transportation and Infrastructure’s Subcommittee on Economic Development, Public Buildings, and Emergency Management. It is based primarily on the following reports: High-Risk Series: Heightened Attention Could Save Billions More and Improve Government Efficiency and Effectiveness Federal Real Property: Agencies Need New Benchmarks to Measure and Shed Underutilized Space Federal Real Property...

Veterans Affairs depends on IT systems to deliver health care to millions of veterans and their families across the country. A 2022 law required VA to have an independent cybersecurity assessment of its IT systems and develop a plan to address any weaknesses found. The independent assessment and VA's resulting plan have met legal requirements. Also, VA has reported progress addressing findings from the assessment...

Digital Surveillance:
Potential Effects on Workers and Roles of Federal Agencies [Reissued with revisions on Dec. 10, 2025]GAO-25-107126Published: Sep 2, 2025 . Publicly Released: Dec 10, 2025 .Employers monitor workers for many reasons such as tracking their safety or productivity. This Q&A examines digital surveillance’s effects on workers. It’s our second on this topic. Digital surveillance can positively and negatively affect workers’ physical and mental health. For example, it can alert them to potential health problems and increase their sense of safety. But it can also increase their anxiety or risk of...

When U.S. Coast Guard service members are injured or ill, the Coast Guard determines their fitness for duty and eligibility for benefits through its disability evaluation system. The Coast Guard is in the process of updating this system. In this Q&A we looked at how the Coast Guard administers this system and its process for updating it. We found that many cases faced delays. The...

This testimony before the Senate Committee on Small Business and Entrepreneurship discusses the Small Business Administration's management of fraud risks and ways it can improve its estimates of improper payments and oversight of its contracting programs. It is based on the following reports, among others: COVID-19 Relief: Improved Controls Needed for Referring Likely Fraud in SBA's Pandemic Loan Programs COVID-19 Relief: SBA and DOL Should...

As of 2023, about 2.4 million children in the U.S. were being raised by relatives or close family friends. This Q&A report looks at these "kinship families." These families are more likely to live in poverty and be led by a grandparent, who may be older and have a disability. Children living with grandparents more often have physical and mental health issues or special education...

Financial Management Shared Services:
Progress and Identified Challenges
GAO-26-107895
Published: Dec 10, 2025 . Publicly Released: Dec 10, 2025 .Federal agencies use various financial systems and services to manage substantial amounts of funding. Consolidating these systems and services can help reduce duplicative efforts and costs government-wide. In this Q&A we reviewed federal efforts to implement financial management shared services. These include transaction processing, report preparation, and other financial services and systems. Agencies can get these from a shared marketplace, but there have been challenges...

This testimony before the House Committee on the Judiciary, Subcommittees on the Administrative State, Regulatory Reform, and Antitrust and Oversight, discusses the preliminary results of our work on fraud risk management in the advance premium tax credit. It is based primarily on the following report: Patient Protection and Affordable Care Act: Preliminary Results from Ongoing Review Suggest Fraud Risks in the Advance Premium Tax Credit...

IASB

November 2025 Emerging Economies Group meeting summary now available
12 Dec 2025

Explore all the educational resources for the IFRS for SMEs Accounting Standard
11 Dec 2025

ISSB issues targeted amendments to IFRS S2 to support implementation
11 Dec 2025

9 Dec 2025

IRS

Treasury, IRS allow States to make an Advance Election to participate in the new federal tax credit for individual contributions to Scholarship Granting Organizations under the One, Big, Beautiful Bill
IR-2025-121, Dec. 12, 2025 — The Department of the Treasury and the Internal Revenue Service today issued Revenue Procedure 2026-6 allowing States, including the District of Columbia, to make an Advance Election to participate in a new tax credit for calendar year 2027.

IR-2025-119, Dec. 9, 2025 — The Department of the Treasury and the Internal Revenue Service today issued Notice 2026-05 providing guidance on new tax benefits for Health Savings Account participants under the One, Big, Beautiful Bill.

PCAOB

At December 19 Open Meeting, PCAOB to Consider 2026 Budget
Dec. 12, 2025

SEC