AICPA
“The world is ripe with opportunities for the accounting and finance profession” says new CIMA President and Chair of the Association of International Certified Professional Accountants
Jun 11, 2024
AICPA Honors University of Arkansas Professor with Distinguished Achievement in Accounting Education Award
Jun 11, 2024
AICPA Announces the Winner of the EDGE in Teaching Award
Jun 10, 2024
CBO
Cost Estimate
H.R. 4094, Great Salt Lake Stewardship Act
June 17, 2024
As ordered reported by the House Committee on Natural Resources on November 15, 2023
Blog Post
A Call for New Research in the Area of Hepatitis C
CBO is looking for new research on the effectiveness of efforts to increase hepatitis C treatment, the costs of such treatment with direct-acting antiviral medications, and the costs of treating complications if the disease is untreated.
Report
Budgetary Effects of Policies That Would Increase Hepatitis C Treatment
CBO describes its initial analysis of the potential federal budgetary effects of policies that would increase treatment of hepatitis C, focusing on two sample national policies that would increase treatment rates among Medicaid enrollees.
Cost Estimate
S. 1829, Stop Harboring Iranian Petroleum Act of 2024
As reported by the Senate Committee on Foreign Relations on May 7, 2024
Cost Estimate
S. 2247, Upper Colorado and San Juan River Basins Endangered Fish Recovery Programs Reauthorization Act of 2023
As reported by the Senate Committee on Energy and Natural Resources on April 9, 2024
Cost Estimate
S. 2336, Making Iran Sanctions Stick In Lieu of Expiration of Sanctions Act
As reported by the Senate Committee on Foreign Relations on May 7, 2024
Cost Estimate
S. 2626, Mahsa Amini Human rights and Security Accountability Act
As reported by the Senate Committee on Foreign Relations on May 7, 2024
Report
Adding Debt-Service Effects to CBO’s Cost Estimates
In many cases, adding debt-service effects to CBO’s cost estimates would be feasible. Any change to incorporate such effects into cost estimates, and how they would be presented, would be subject to review by the Budget Committees.
Cost Estimate
H.R. 6452, Veterans Scam and Fraud Evasion Act of 2024
As ordered reported by the House Committee on Veterans’ Affairs on May 1, 2024
Cost Estimate
H.R. 7251, Poison Control Centers Reauthorization Act of 2024
As reported by the House Committee on Energy and Commerce on May 17, 2024
Cost Estimate
H.R. 8341, Cost Estimates Improvement Act
As ordered reported by the House Committee on the Budget on May 16, 2024
Cost Estimate
S. 150, Affordable Prescriptions for Patients Act of 2023
As reported by the Senate Committee on the Judiciary on March 1, 2023
Blog Post
Upcoming Presentations by Staff and Affiliates of CBO's Health Analysis Division
This summer, analysts in CBO’s Health Analysis Division will give presentations at the 2024 IQVIA Institute Research Forum in Boston and the 13th Annual Conference of the American Society of Health Economists in San Diego.
Cost Estimate
H.R. 681, READ Act Reauthorization Act of 2023
As ordered reported by the House Committee on Foreign Affairs on May 16, 2024
Cost Estimate
H.R. 7129, Put America on Commission Act of 2024
As reported by the House Committee on Small Business on February 23, 2024
Cost Estimate
Letter to the Honorable Bill Cassidy, M.D.
Request for a cost estimate for S. 4445, the Right to IVF Act, which was introduced on June 3, 2024
Cost Estimate
H.R. 8368, Coordinator for Afghan Relocation Efforts Authorization Act of 2024
As ordered reported by the House Committee on Foreign Relations on May 16, 2024
Cost Estimate
S. 3775, BOLD Infrastructure for Alzheimer’s Reauthorization Act of 2024
As ordered reported by the Senate Committee on Health, Education, Labor, and Pensions on May 23, 2024
Cost Estimate
H.R. 8070, Servicemember Quality of Life Improvement and National Defense Authorization Act for Fiscal Year 2025
As reported by the House Committee on Armed Services on May 31, 2024
Report
Monthly Budget Review: May 2024
The federal budget deficit was $1.2 trillion in the first eight months of fiscal year 2024, CBO estimates—$38 billion more than the deficit recorded during the same period last fiscal year.
GAO
Priority Open Recommendations:
Department of Transportation
GAO-24-107347
Published:
Publicly Released:
Each year, we make more than 1,000 recommendations to help the federal government save money, address issues on our High Risk List, and significantly improve government operations. This letter to the U.S. Department of Transportation outlines 20 open recommendations that it should prioritize. For example, in December 2023, we recommended that DOT update the lifecycle cost estimate of its multibillion-dollar airspace modernization program—one of 8...
Priority Open Recommendations:
Department of the Interior
GAO-24-107309
Published:
Publicly Released:
Each year, we make more than 1,000 recommendations to help the federal government save money, address issues on our High Risk List, and significantly improve government operations. This letter to the Department of the Interior outlines 11 open recommendations that it should prioritize. For example, Interior should improve its oversight of offshore oil and gas activities and address the safety and environmental risks associated with...
K-12 Education:
How States Identify English Learners, Including Those with Disabilities
GAO-24-107376
Published:
Publicly Released:
States must ensure school districts identify students who need English language services to participate fully in the classroom. States must also ensure that all children with disabilities residing in their state are evaluated. In this Q&A, we reported on how schools identify students needing English services. It can be hard to determine whether a specific educational challenge is related to a student's disability, their English-language...
Weapon Systems Annual Assessment:
DOD Is Not Yet Well-Positioned to Field Systems with Speed
GAO-24-106831
Published:
Publicly Released:
Our 22nd annual assessment of DOD's weapon systems acquisition finds DOD still struggling to deliver new technologies quickly, even while faced with constantly evolving threats. DOD acknowledged it needed a new approach—creating acquisition pathways to speed up processes. But some programs in the new pathways likely won't deliver much faster than traditional programs. Also, DOD only reported plans to take full advantage of leading product...
Amateur Athlete Safety:
Certification Related to the Independence of the U.S. Center for SafeSport for Fiscal Year 2023
GAO-24-107252
Published:
Publicly Released:
The U.S. Center for SafeSport is responsible for protecting amateur athletes from emotional, physical, and sexual misconduct and abuse in the U.S. Olympic and Paralympic communities. Congress requires that the Center be independent from the U.S. Olympic Committee in a number of ways. For example, former employees of the U.S. Olympic Committee must observe a 2 year "cooling-off period" before working or volunteering at the...
Congressional Award Foundation:
Review of the FY 2023 Financial Statement Audit
GAO-24-107420
Published:
Publicly Released:
The Congressional Award Foundation is a privately funded charity established by Congress that recognizes American youth for their public service, personal development, physical fitness, and exploration of other cultures or the wilderness. The Foundation is required to have its financial statements audited each year, and we are required to review those audits. The Foundation's auditor issued an "unmodified" or clean opinion on its FY 2023...
Capitol Preservation Fund:
Audit of FY 2021, 2022, and 2023 Transactions
GAO-24-107253
Published:
Publicly Released:
The U.S. Capitol Preservation Commission uses the Capitol Preservation Fund to finance improvements, preservation, and acquisitions for the United States Capitol. The Library of Congress provides financial management and support to the Commission. We audit the Capitol Preservation Fund's transactions every three years. For FY 2021-2023, the fund's transactions consisted solely of investments. We found that the Commission and the Library executed most transactions in...
Equal Employment Opportunity Commission:
Improved Oversight Processes Needed to Help Agencies Address Program Deficiencies
GAO-24-105874
Published:
Publicly Released:
Equal employment laws are intended to keep workplaces free of discrimination and harassment. The Equal Employment Opportunity Commission oversees federal agencies' compliance and also gives them guidance and training. Each year, agencies must assess their equal employment programs to find problems and plan for solutions. Agencies have to report this information to EEOC. But they don't always submit reports on time and EEOC doesn't track...
Senate Preservation Fund:
Audit of FY 2021, 2022, and 2023 Transactions
GAO-24-107254
Published:
Publicly Released:
The Senate Commission on Art acquires works of art, historical objects, documents, and exhibits for the Capitol and Senate office buildings—financing them through the Senate Preservation Fund. The Library of Congress provides financial management and support to the Commission. We audit the Senate Preservation Fund's transactions every three years. For FY 2021-2023, the fund's transactions consisted solely of investments. We found that the Commission and...
Government Efficiency and Effectiveness:
Opportunities to Improve Collaboration and Achieve Billions of Dollars in Financial Benefits
GAO-24-107594
Published:
Publicly Released:
Each year, GAO reports on federal programs with fragmented, overlapping, or duplicative goals or actions and we've proposed hundreds of ways to address those problems, reduce costs, or boost revenue. This testimony before the House Subcommittee on Government Operations and the Federal Workforce discusses our 14th annual report's 112 new matters for congressional consideration and recommendations to agencies to help address our findings. Congressional and...
Anti-Money Laundering:
Better Information Needed on Effectiveness of Federal Efforts [Reissued with revisions on Jun. 13, 2024]
GAO-24-106301
Published:
Publicly Released:
The Anti-Money Laundering Act of 2020 aims to modernize how federal agencies combat money laundering and other financial crimes. The Financial Crimes Enforcement Network is responsible for implementing many of the Act's requirements—like assessing how new technologies can help detect such crimes. But FinCEN has yet to provide a full update to Congress and the public on its progress meeting these requirements. Also, the government...
U.S. Territories:
Coordinated Federal Approach Needed to Better Address Data Gaps
GAO-24-107605
Published:
Publicly Released:
We testified about gaps in federal data for the U.S. territories—American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, the Commonwealth of Puerto Rico, and the U.S. Virgin Islands. At each agency we reviewed, most statistical reports excluded at least one of the territories. Data gaps can limit the government's understanding of territory needs and how to best distribute resources. A mix of cost...
Priority Open Recommendations:
Department of Agriculture
GAO-24-107307
Published:
Publicly Released:
Each year, we make more than 1,000 recommendations to help the federal government save money, address issues on our High Risk List, and significantly improve government operations. This letter to the Department of Agriculture outlines 9 open recommendations that it should prioritize. For example, we recommended USDA analyze different options to help farmers and ranchers prepare for the impacts of climate change. USDA implemented 5...
High-Risk Series:
Urgent Action Needed to Address Critical Cybersecurity Challenges Facing the Nation
GAO-24-107231
Published:
Publicly Released:
Federal IT systems and the nation's critical infrastructure are often under threat. Federal agencies reported over 30,000 IT security incidents in FY 2022. We reported on the government's 4 major cybersecurity challenges: Establishing a comprehensive cybersecurity strategy and performing effective oversight Securing federal systems and information Protecting the cybersecurity of critical infrastructure Protecting privacy and sensitive data Since 2010, we've made 1,610 recommendations to address...
Priority Open Recommendations:
Department of the Treasury
GAO-24-107324
Published:
Publicly Released:
Each year, we make more than 1,000 recommendations to help the federal government save money, address issues on our High Risk List, and significantly improve government operations. This letter to the Department of the Treasury outlines 34 open recommendations that it should prioritize. For example, improving data collection on Emergency Rental Assistance payments and developing additional processes—such as recovery audits—could strengthen Treasury's oversight of more...
Priority Open Recommendations:
Department of Commerce
GAO-24-107326
Published:
Publicly Released:
Each year, we make more than 1,000 recommendations to help the federal government save money, address issues on our High Risk List, and significantly improve government operations. This letter to the Department of Commerce outlines 11 open recommendations that it should prioritize. For example, we recommended that Commerce's Census Bureau determine if its previous efforts to reach hard-to-count populations were effective and if any should...
Coast Guard Acquisition:
Actions Needed to Address Affordability Challenges
GAO-24-107584
Published:
Publicly Released:
The Coast Guard is investing over $40 billion to replace and update its aircraft and ships. We testified on the Coast Guard's challenges managing this portfolio of major acquisitions. The Coast Guard makes short-term budget decisions without considering costs for longer-term projects, such as a costly backlog of shore infrastructure. Because of this budget approach, the Coast Guard is kicking the can down the road—resulting...
Child Welfare:
Abuse of Youth Placed in Residential Facilities
GAO-24-107625
Published:
Publicly Released:
State and local agencies are largely responsible for preventing abuse and neglect in youth residential facilities. Yet incidents continue. We reported on longstanding issues with protecting youth at such facilities, including ensuring the safe and appropriate use of psychotropic medications and restraints. We testified that more could be done to address maltreatment, including better oversight and stronger enforcement mechanisms to hold facilities accountable. HHS has...
Recommendations for Congress:
Action Can Produce Billions of Dollars in Financial and Other Benefits
GAO-24-107261
Published:
Publicly Released:
In this Q&A, we reported on our recommendations to Congress—our "matters for congressional consideration." Since 2000, we've recommended that Congress consider over 1,000 of these matters to save money and improve federal programs. Congress has acted on 80% of them. As of March 2024, 242 matters remained open. For example, in 2018, we recommended requiring electronically prepared tax returns that are filed on paper to...
National Science Foundation:
Five Major Facilities Projects Experienced Delays
GAO-24-107044
Published:
Publicly Released:
The National Science Foundation supports the design, construction, and operations of science and engineering research infrastructure. We report annually on these NSF-funded projects. NSF has reported delays for all 5 facilities projects in construction that cost $100 million or more, and that additional delays are expected for 2. Eight projects costing $20 million to $100 million are progressing on budget with 2 projects slightly delayed...
DHS Hiring:
Additional Actions Needed to Enhance Vetting Processes Across the Department
GAO-24-106153
Published:
Publicly Released:
Hiring qualified and trustworthy people as efficiently as possible is critical to meeting the Department of Homeland Security's needs. DHS must vet candidates in a timely manner, including ensuring that candidates have completed all hiring requirements, such as medical exams, and verifying that paperwork is complete and accurate. DHS has processes to complete hiring requirements quickly, and collects and reports data on its efforts to...
State Small Business Credit Initiative:
Treasury Made Progress on Disbursements and Improvements to Project Scheduling
GAO-24-106671
Published:
Publicly Released:
The Treasury Department's State Small Business Credit Initiative provides funds to states, territories, and tribes to support small business lending and investment programs. Congress appropriated $10 billion for this program in 2021. We've previously reported that Treasury is taking longer than expected to review applications and disburse funds for this program. In response, Treasury developed a project management tool that helps track, manage, and report...
Priority Open Recommendations:
Department of State
GAO-24-107318
Published:
Publicly Released:
Each year, we make more than 1,000 recommendations to help the federal government save money, address issues on our High Risk List, and significantly improve government operations. This letter to the State Department outlines 13 open recommendations that it should prioritize. For example, we recommended that State more systematically track foreign assistance funds provided in response to the crisis in Ukraine. This will help U.S...
Priority Open Recommendations:
U.S. Agency for International Development
GAO-24-107319
Published:
Publicly Released:
Each year, we make more than 1,000 recommendations to help the federal government save money, address issues on our High Risk List, and significantly improve government operations. This letter to USAID outlines 4 open recommendations that it should prioritize. For example, we recommended that the agency ensure its guidance requires fraud assessments for its programs. We also recommended tracking staff participation in mandatory fraud awareness...
State Department:
Bureau of Conflict and Stabilization Operations Should Better Track Its Performance
GAO-24-106238
Published:
Publicly Released:
The State Department's Bureau of Conflict and Stabilization Operations works with other federal agencies and State Department offices to help prevent conflict and stabilize conflict-affected areas abroad. We found that CSO followed some, but not all, key practices that agencies should use to measure and manage their performance. For example, CSO did not set FY 2022 targets for 8 of its 25 performance indicators, such...
IASB
IFRS Foundation Trustees appoint three new IFRS Interpretations Committee members
Appointment
11 June 2024
IRS
IRS announces new steps to combat abusive use of partnerships; agency’s focus intensifies as new guidance closes loopholes worth tens of billions
IR-2024-166, June 17, 2024 — As part of ongoing efforts to focus more attention on high-income compliance issues, the Internal Revenue Service announced today a new series of steps to combat abusive partnership transactions that allow wealthy taxpayers to avoid paying what they owe.
IRS updated careers website aims to better connect with job seekers; part of larger agency recruiting efforts to serve taxpayers, the nation
IR-2024-165, June 13, 2024 — The Internal Revenue Service today announced the updated IRS Careers website is live and ready to connect job seekers with IRS opportunities.
IRS warns against scams targeting seniors; joins other federal agencies to recognize special awareness day
IR-2024-164, June 12, 2024 — As part of continuing efforts to protect the senior community, the Internal Revenue Service today issued a warning about the rising threat of impersonation scams.
2024 IRS Nationwide Tax Forum: Educational seminars, special events announced focusing on tax security, scams, practice management and beneficial ownership information
IR-2024-163, June 12, 2024 — The Internal Revenue Service today announced the continuing education agenda for the 2024 Nationwide Tax Forum featuring 45 seminars on a wide array of topics that will help tax professionals serve their clients.
IRS has options to help people who missed the April filing deadline
IR-2024-162, June 10, 2024 — The Internal Revenue Service today highlighted a number of options available to help taxpayers who missed the April deadline to file their 2023 federal income tax return.
PCAOB
PCAOB Modernizes Its Rules by Strengthening Accountability for Contributing to Firm Violations
Jun. 12, 2024
PCAOB Updates Its Standards To Clarify Auditor Responsibilities When Using Technology-Assisted Analysis
Jun. 12, 2024
PCAOB Continues Its Modernization Drive With Proposal To Replace Outdated Standard on Substantive Analytical Procedures
Jun. 12, 2024
Chair Williams Statement on Reappointment to Second Term
Jun. 11, 2024
PCAOB Sanctions Firm and Three Individuals for Violations Related to Quality Control, Audit Failures, Form AP Deadlines
Jun. 10, 2024
SEC
SEC’s New Public Service Campaign Emphasizes Investor Protection
2024-74
Washington D.C., June 17, 2024 —The Securities and Exchange Commission’s Office of Investor Education and Advocacy (OIEA) today unveiled its new public service campaign, which highlights investor protection and encourages investors to explore the free tools and resources on Investor.gov.
Terraform and Kwon to Pay $4.5 Billion Following Fraud Verdict
2024-73
Washington D.C., June 13, 2024 — The Securities and Exchange Commission today announced that Terraform Labs PTE, Ltd. and Do Kwon agreed to pay more than $4.5 billion following a unanimous jury verdict holding them liable for orchestrating a years-long fraud involving crypto asset securities that led to massive investor losses when the scheme unraveled.
SEC Charges JAG Capital Advisors and its Founder Joshua Goltry with Defrauding Investors
2024-72
Washington D.C., June 12, 2024 — The Securities and Exchange Commission today charged Joshua Goltry and his investment management firm, JAG Capital Advisors LLC (JAG Advisors), in connection with a three-year scheme to defraud investors of at least $3 million.
SEC Appoints Erica Y. Williams to a Second Term as PCAOB Chairperson
2024-71
Washington D.C., June 11, 2024 — The Securities and Exchange Commission today announced the appointment of Erica Y. Williams to a second term as Chairperson of the Public Company Accounting Oversight Board (PCAOB) beginning on Oct. 25, 2024, and running through Oct. 24, 2029.
SEC Charges Founder of AI Hiring Startup Joonko with Fraud
2024-70
Washington D.C., June 11, 2024 — The Securities and Exchange Commission today charged Ilit Raz, CEO and founder of the now-shuttered artificial intelligence recruitment startup Joonko, with defrauding investors of at least $21 million by making false and misleading statements about the quantity and quality of Joonko’s customers, the number of candidates on its platform, and the company’s revenue.
TIGTA
Some Corrective Actions to Address Reported Information Technology Weaknesses Were Not Adequately Documented and Effectively Implemented
June 12, 2024