AICPA
AICPA Auditing Standards Board Approves Revisions to Attestation Standards
May 17, 2024
AICPA & CIMA and PwC join forces to offer new training to help accounting and finance professionals embrace EU sustainability reporting standards
May 15, 2024
AICPA Statement on National Pipeline Advisory Group Draft Report
May 15, 2024
CBO
Cost Estimate
H.R. 5870, Veteran Appeals Transparency Act of 2024
May 17, 2024
As ordered reported by the House Committee on Veterans’ Affairs on May 1, 2024
Cost Estimate
S. 2871, Multi-Cloud Innovation and Advancement Act of 2023
May 17, 2024
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs
on April 10, 2024
Cost Estimate
H.R. 5179, Anti-BDS Labeling Act
May 16, 2024
As ordered reported by the House Committee on Ways and Means on April 17, 2024
Cost Estimate
H.R. 5874, TAAP Act
May 16, 2024
As ordered reported by the House Committee on Natural Resources on January 17, 2024
Cost Estimate
H.R. 7347, a bill to amend title 38, United States Code, to direct the Secretary of Veterans Affairs to report on whether the Secretary will include certain psychedelic drugs in the formulary of the Department of Veterans Affairs
May 16, 2024
As ordered reported by the House Committee on Veterans Affairs on May 1, 2024
Cost Estimate
H.R. 7816, Clear Communications for Veterans Claims Act
May 16, 2024
As ordered reported by the House Committee on Veterans’ Affairs on May 1, 2024
Suspension Bill
Legislation considered under suspension of the Rules of the House of Representatives during the week of May 20, 2024 May 16, 2024
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
S. 1254, Wild Olympics Wilderness and Wild and Scenic Rivers Act
May 16, 2024
As ordered reported by the Senate Committee on Energy and Natural Resources on December 14, 2023
Cost Estimate
S. 636, Dolores River National Conservation Area and Special Management Area Act
May 16, 2024
As ordered reported by the Senate Committee on Energy and Natural Resources on December 14, 2023
Cost Estimate
H.R. 5658, Vote by Mail Tracking Act of 2024
May 15, 2024
As ordered reported by the House Committee on Oversight and Accountability on February 6, 2024
Cost Estimate
H.R. 7280, HUD Transparency Act of 2024
May 15, 2024
As ordered reported by the House Committee on Financial Services on February 29, 2024
Cost Estimate
S. 384, Springfield 1908 Race Riot National Monument Act
May 15, 2024
As reported by the Senate Committee on Energy and Natural Resources on December 20, 2023
Cost Estimate
H.R. 5302, Michel O. Maceda Memorial Act
May 14, 2024
As ordered reported by the House Committee on Homeland Security on April 10, 2024
Report
An Update About How Inflation Has Affected Households at Different Income Levels Since 2019
May 14, 2024
CBO focused on households’ consumption of a bundle of typical goods and services from 2019 to compare purchasing power in 2019 with that in 2023. On average, purchasing power increased, but the effects of inflation varied by income group.
Cost Estimate
Estimated Budgetary Effects of H.R. 7659, the Coast Guard Authorization Act of 2024
May 14, 2024
As reported by the House Committee on Transportation and Infrastructure on May 8, 2024
Cost Estimate
H.R. 354, LEOSA Reform Act of 2024
May 14, 2024
As ordered reported by the House Committee on the Judiciary on May 8, 2024
Cost Estimate
H.R. 705, Veterans 2nd Amendment Protection Act
May 14, 2024
As ordered reported by the House Committee on Veterans’ Affairs on May 1, 2024
Cost Estimate
H.R. 7100, Prioritizing Veterans’ Survivors Act
May 14, 2024
As ordered reported by the House Committee on Veterans’ Affairs on May 1, 2024
Cost Estimate
H.R. 7404, Subterranean Border Defense Act
May 14, 2024
As ordered reported by the House Committee on Homeland Security on April 10, 2024
Cost Estimate
H.R. 2911, Fairness for Servicemembers and their Families Act of 2024
May 13, 2024
As ordered reported by the House Committee on Veterans’ Affairs on May 1, 2024
Cost Estimate
H.R. 7777, Veterans’ Compensation Cost-of-Living Adjustment Act of 2024
May 13, 2024
As ordered reported by the House Committee on Veterans’ Affairs on May 1, 2024
GAO
Priority Open Recommendations:
Nuclear Regulatory Commission
GAO-24-107311
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 Nuclear Regulatory Commission outlines 8 open recommendations that it should prioritize. For example, we recommended that NRC improve the security of certain radioactive materials to make them less vulnerable to theft while developing a...
Decarbonization:
Opportunities Exist to Improve the Department of Energy's Management of Risks to Carbon Capture Projects
GAO-24-106489
Published: May 16, 2024
Publicly Released: May 16, 2024
Carbon capture technologies could help the federal government meet its goals to reduce carbon dioxide levels in the atmosphere. From FY 2018-2023, the Department of Energy provided about $1.4 billion to fund 654 research and development projects related to carbon capture, use, and storage or directly extracting CO2 from the air. However, the DOE office that handled nearly 70% of funding didn't always follow guidance...
United Nations:
State Department Should Better Assess Its Efforts to Increase Employment of Americans at UN Agencies GAO-24-106127
Published: Apr 16, 2024
Publicly Released: May 16, 2024
The UN strives for equitable representation among its workforce. Many UN agencies use factors such as a country's membership status, financial contributions, and population size to set targets for its representation in certain categories of employees. American UN employees we spoke with cited challenges such as long hiring processes and unclear compensation packages as barriers to UN employment. To address recent declines in U.S. representation...
Behavioral Health:
Activities of the National Mental Health and Substance Use Policy Laboratory
GAO-24-106760
Published: May 16, 2024
Publicly Released: May 16, 2024
This Q&A report reviews the work of the Policy Lab—a support office within the Substance Abuse and Mental Health Services Administration. The Policy Lab works across SAMHSA to support the agency's efforts to implement policy change, coordinate its programs, and publish evidence-based information related to substance misuse and mental health. Some key efforts the Policy Lab has worked on include: Developing the agency's strategic plan...
F-35 Joint Strike Fighter:
Program Continues to Encounter Production Issues and Modernization Delays
GAO-24-106909
Published: May 16, 2024
Publicly Released: May 16, 2024
After nearly 20 years, the F-35 program moved into full-rate production after conducting its final simulated tests. At this milestone, DOD determined that the F-35 demonstrated an acceptable level of performance and reliability and could be manufactured faster. However, contractors continue to deliver engines and aircraft late—a trend that has worsened in the last few years. The program also faces delays in updating the aircraft's...
VA Health Care:
Opportunities to Improve Access for Veterans Living in Rural Areas
GAO-24-107559
Published: May 15, 2024
Publicly Released: May 15, 2024
About a third of the 8.3 million veterans who receive Department of Veterans Affairs health care live in rural areas. The VA has sought to improve their access to care with transportation services, mobile medical units, and more. We testified about our prior work examining these VA efforts and its responses to our recommendations. For example, VA reported it had 52 active mobile medical units...
2024 Annual Report:
Additional Opportunities to Reduce Fragmentation, Overlap, and Duplication and Achieve Billions of Dollars in Financial Benefits
GAO-24-106915
Published: May 15, 2024
Publicly Released: May 15, 2024
Each year, GAO reports on federal programs with fragmented, overlapping, or duplicative goals or actions, and we have suggested hundreds of ways to address those problems, reduce costs, or boost revenue. In our 14th annual report, we identified 112 new matters for congressional consideration and recommendations to agencies to help address these findings. Congressional and agency action in these areas has yielded about $667 billion...
Government Efficiency and Effectiveness:
Opportunities to Reduce Fragmentation, Overlap, and Duplication and Achieve Billions of Dollars in Financial Benefits
GAO-24-107554
Published: May 15, 2024
Publicly Released: May 15, 2024
Each year, GAO reports on federal programs with fragmented, overlapping, or duplicative goals or actions, and we have suggested hundreds of ways to address those problems, reduce costs, or boost revenue. This testimony discusses our 14th annual report, in which we identified 112 new matters for congressional consideration and recommendations to agencies to help address these findings. Congressional and agency action in these areas has...
Financial Management:
Additional Steps Needed to Improve ICE's Budget Projections and Execution
GAO-24-106550
Published: May 15, 2024
Publicly Released: May 15, 2024
In recent years, U.S. Immigration and Customs Enforcement has frequently relied on additional funding beyond its annual appropriations to enforce immigration laws and combat transnational crime. That funding often totaled hundreds of millions of dollars per year. ICE uses budget models to estimate its resource needs and is required to periodically review these models. However, ICE doesn't do so—so it can't be sure that its...
Military Child Care:
Services Should Assess Their Employee Retention Efforts
GAO-24-106524
Published: May 14, 2024
Publicly Released: May 14, 2024
DOD lets each military service set hourly wages within a specific range for its child care workers. For example, a service may raise entry-level pay for child care workers within the range to compete with the local civilian labor market. But military officials reported challenges recruiting and retaining these workers, including a lengthy onboarding process and stressful work environment. The services follow many recruitment and...
IASB
ISSB opens permanent Montreal office, celebrating progress and collaboration with Canadian stakeholders Announcement
15 May 2024
May 2024 Management Commentary Consultative Group meeting papers and agenda now available
Meeting
14 May 2024
Webcast: Introducing the ISSB Taxonomy
Webcast
14 May 2024
IRS
IRS and Treasury issue release capacity limitation carryover amounts for the 2024 program year
IR-2024-142, May 17, 2024 — The Department of the Treasury and the Internal Revenue Service today issued Announcement 2024-25 that provides the total amount of unallocated environmental justice solar and wind capacity limitation that has been carried over from the 2023 Low-Income Communities Bonus Credit program year to the 2024 program year.
IRS announces tax relief for taxpayers impacted by tornadoes in Ohio; various deadlines postponed to Sept. 3, 2024 IR-2024-141, May 16, 2024 — The Internal Revenue Service announced today tax relief for individuals and businesses in Ohio that were affected by tornadoes that began on March 14, 2024.
IRS provides guidance for the Domestic Content Bonus Credit
IR-2024-140, May 16, 2024 — The Department of Treasury and the Internal Revenue Service today released Notice 2024-41 to modify an existing safe harbor and to provide a new elective safe harbor for determining the Domestic Content Bonus Credit amounts.
IRS warns taxpayers they may be scam victims if they filed for big refunds; misleading advice leads to false claims for Fuel Tax Credit, Sick and Family Leave Credit, household employment taxes
IR-2024-139, May 14, 2024 — The Internal Revenue Service issued a consumer alert today following ongoing concerns about a series of tax scams and inaccurate social media advice that led thousands of taxpayers to file inflated refund claims during the past tax season.
NYS
New York State Tax Department Announces Direct Deposit Option for STAR Credit Recipients Statewide
May 13, 2024
PCAOB
PCAOB Adopts New Quality Control Standard With a Risk-Based Approach Designed to Drive Continuous Improvement in Audit Quality
May 13, 2024
PCAOB Solidifies Foundation of Every Audit With Adoption of New Standard on General Responsibilities of the Auditor May 13, 2024
SEC
SEC Announces Departure of Policy Director Heather Slavkin Corzo and Appointment of Corey Klemmer to the Role 2024-60
Washington D.C., May 17, 2024 — The Securities and Exchange Commission today announced that Policy Director Heather Slavkin Corzo will leave the agency. Corey Klemmer, most recently the Corporation Finance Counsel to Chair Gary Gensler, has been appointed Policy Director.
Tina Diamantopoulos Named Regional Director of Chicago Office
2024-59
Washington D.C., May 16, 2024 — The Securities and Exchange Commission today announced that Tina Diamantopoulos has been named Director of the Chicago Regional Office, the Commission’s second-largest regional office.
SEC Adopts Rule Amendments to Regulation S-P to Enhance Protection of Customer Information
2024-58
Washington D.C., May 16, 2024 — The Securities and Exchange Commission today announced the adoption of amendments to Regulation S-P to modernize and enhance the rules that govern the treatment of consumers’ nonpublic personal information by certain financial institutions. The amendments update the rules’ requirements for broker-dealers (including funding portals), investment companies, registered investment advisers, and transfer agents (collectively, “covered institutions”) to address the expanded use of technology and corresponding risks that have emerged since the Commission originally adopted Regulation S-P in 2000.
SEC Staff Publishes New Investment Adviser Statistics Report
2024-57
Washington D.C., May 15, 2024 — The staff of the Securities and Exchange Commission today published a new report of Investment Adviser Statistics, which is based on aggregated data filed by investment advisers on Form ADV. The new report, which will be updated on an annual basis, is designed to give the public a view into the investment advisory industry, with insights into areas such as business activities, client composition, and the types of funds advised. The report shows trends over time.
SEC Seeks Candidates for Small Business Capital Formation Advisory Committee
2024-56
Washington D.C., May 14, 2024 — The Securities and Exchange Commission is seeking candidates to fill a limited number of vacancies on the agency’s Small Business Capital Formation Advisory Committee, which provides advice and recommendations to the Commission on rules, regulations, and policy matters relating to small businesses.
SEC Charges Hudson Valley Wealth Management Advisory Firm and Founder for Failing to Disclose Conflicts of Interest 2024-55
Washington D.C., May 14, 2024 — The Securities and Exchange Commission today announced settled charges against New York-based registered investment adviser Hudson Valley Wealth Management Inc. and its founder, Christopher Conover, for breaching their fiduciary duties by failing to disclose conflicts of interest and making misleading statements to their clients. To settle the charges, Hudson Valley agreed to pay a civil penalty of $200,000, and Conover agreed to pay more than $600,000 in disgorgement and prejudgment interest and a $150,000 civil penalty.