AICPA

AICPA Debuts Proposed Reporting Framework for Issuers of Stablecoins
Dec 4, 2023

AICPA Warns Congress of Damaging Impacts during the 2023 Tax Filing Season in the Event of a Government Shutdown Nov 28, 2023

AICPA® & CIMA® Collaborate with Shanghai Advanced Institute of Finance to Boost Finance and Accounting Education and Profession
Nov 27, 2023

AICPA & CIMA announce the winners of their 2023 CGMA China Awards
Nov 27, 2023

AICPA® & CIMA® and Pudong Institute of Finance Join Forces to advance Finance and Accounting Education and Profession
Nov 27, 2023

CBO

Cost Estimate
H.R. 5009, WILD Act
December 1, 2023
As ordered reported by the House Committee on Natural Resources on October 26, 2023

Cost Estimate
H.R. 6231, Department of Homeland Security Policy Issuance Review Act
December 1, 2023
As ordered reported by the House Committee on Homeland Security on November 8, 2023

Cost Estimate
H.R. 1456, Stopping Communist Regimes from Engaging in Edits Now Act
November 30, 2023
As ordered reported by the House Committee on Foreign Affairs on July 26, 2023

Cost Estimate
H.R. 3560, National Drone and Advanced Air Mobility Research and Development Act
November 30, 2023
As ordered reported by the House Committee on Science, Space, and Technology on May 24, 2023

Cost Estimate
H.R. 6087, Young African Leaders Initiative Act of 2023
November 30, 2023
As ordered reported by the House Committee on Foreign Affairs on November 7, 2023

Cost Estimate
S. 2685, Reuse Excess Property Act
November 30, 2023
As ordered reported by the Senate Committee on Homeland Security on October 25, 2023

Report
The Navy’s Costs to Eliminate Its Deferred Maintenance Backlog and to Renovate and Modernize Its Buildings
November 30, 2023
CBO estimates that eliminating the maintenance backlogs of roughly 20,000 buildings that the Navy uses and maintains in the United States would cost $17 billion. Renovating and modernizing the buildings would cost an additional $32 billion.

Cost Estimate
Legislation considered under suspension of the Rules of the House of Representatives during the week of December 4, 2023
November 29, 2023
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
H.R. 4723, Upholding the Dayton Peace Agreement Through Sanctions Act
November 28, 2023
As ordered reported by the House Committee on Foreign Affairs on November 7, 2023

Cost Estimate
S. 1059, Big Bend National Park Boundary Adjustment Act
November 28, 2023
As ordered reported by the Senate Committee on Energy and Natural Resources on September 21, 2023

Cost Estimate
H.R. 4681, Illicit Captagon Trafficking Suppression Act of 2023
November 27, 2023
As ordered reported by the House Committee on Foreign Affairs on November 7, 2023

FASB

Small Business Advisory Committee Meeting Recap—November 9, 2023
December 1, 2023

GAO

Cybersecurity:
Federal Agencies Made Progress, but Need to Fully Implement Incident Response Requirements
GAO-24-105658
Published: Dec 4, 2023
Publicly Released: Dec 4, 2023
Federal agencies have made progress in preparing for and responding to cyber threats. For instance, agencies have improved their ability to detect, analyze, and handle incidents like ransomware attacks and data breaches. However, some agencies have not met the federal requirements for event logging—i.e., ensuring that cybersecurity incidents are tracked and that these tracking logs are appropriately retained and managed. Information from federal IT logs...

Crop Insurance:
Update on Opportunities to Reduce Program Costs
GAO-24-106086
Published: Nov 7, 2023
Publicly Released: Dec 4, 2023
The federal crop insurance program helps farmers get insurance to protect them when crop prices decline or harvests fall short due to natural causes. The Department of Agriculture partners with private insurers to run the program. In 2022, federal costs were $17.3 billion—with about $12 billion subsidizing premiums and the rest going toward the insurance companies' administrative costs and government costs for losses related to...

Disaster Loan Program:
SBA Should Include Key Issues in Its Review of How the Program Affects Underserved Communities
GAO-24-106682
Published: Nov 30, 2023
Publicly Released: Nov 30, 2023
The Small Business Administration's Disaster Loan Program helps homeowners, renters, and businesses recover from disasters that can cause billions of dollars in damage each year. SBA has identified lending criteria—such as credit history—as one barrier to loan access in underserved communities, like those with high poverty rates. For 13 hurricanes in fiscal years 2018-2022, we found that SBA approved applicants from some underserved communities less...

NASA Artemis Programs:
Crewed Moon Landing Faces Multiple Challenges  
GAO-24-106256
Published: Nov 30, 2023
Publicly Released: Nov 30, 2023
NASA is taking steps to return astronauts to the moon for the first time since 1972—in a mission called Artemis III. NASA and its contractors made progress since our last report on the Artemis missions, but they are still facing challenges with developing the lunar lander and space suits. For example, some flight tests have been delayed, which could affect the timing of subsequent tests...

Federal Rulemaking:
Status of Actions to Offset Direct Spending from Administrative Rules GAO-24-106968
Published: Nov 30, 2023
Publicly Released: Nov 30, 2023
The Fiscal Responsibility Act of 2023 requires federal agencies to identify increases in mandatory or "direct spending" that may result from some new federal rules. In these cases, agencies must: notify the Office of Management and Budget of estimated increases to direct spending identify actions that could offset this spending or request a waiver In this Q&A report, we identified 28 economically significant rules finalized...

Science & Tech Spotlight:
Ocean Warming
GAO-24-107068
Published: Nov 30, 2023
Publicly Released: Nov 30, 2023
The ocean is storing much of Earth's excess heat. The resulting ocean warming contributes to problems such as rising sea level, ice-sheet melting, and coral bleaching. This Spotlight report covers these and other issues, including effects on coastal communities and difficulty predicting change in complex systems like global ocean currents. We also discuss opportunities, like restoring mangroves as barriers against storm surges and other "nature-based...  

Social Security Series Part 2:
Criteria for Evaluating Reform Proposals
GAO-24-106778
Published: Nov 30, 2023
Publicly Released: Nov 30, 2023
In Part 1 of this series, we reported that Social Security faces financial challenges and is projected to be unable to pay full scheduled benefits starting in 2033. This brief identifies criteria for policymakers to consider when evaluating potential reforms intended to address these challenges. Specifically: Can the reform sustain the program financially over time? Does the reform address goals related to the adequacy and...

End-Stage Renal Disease:
CMS Plans for Including Phosphate Binders in the Bundled Payment GAO-24-106288
Published: Nov 30, 2023
Publicly Released: Nov 30, 2023
Patients experiencing kidney failure rely on dialysis and other treatments for life-sustaining care. The Centers for Medicare & Medicaid Services pays dialysis organizations for the care with a bundled payment that includes dialysis, certain drugs, and other costs like lab work. Currently "phosphate binders"—drugs commonly used among this population—aren't part of the bundle. CMS plans to add them in 2025, which may require dialysis organizations...

High-Risk Radioactive Material:
Opportunities Exist to Improve the Security of Sources No Longer in Use
GAO-24-105998
Published: Nov 30, 2023
Publicly Released: Nov 30, 2023
"Radioactive sources" refers to nuclear materials that emit radiation and are sealed in containers that are specifically designed for use in medical, industrial, or research applications. For example, cesium-137 is widely used in a device that irradiates donor blood to make it safer for transfusions. These radioactive sources can only be used for a defined period—based on radioactive half-life—but some users delay disposal, leaving sources...

Federal Facilities:
Continued Oversight of Security Recommendations Needed
GAO-24-107137
Published: Nov 29, 2023
Publicly Released: Nov 29, 2023
We testified about our prior work on Department of Homeland Security efforts to improve security for federal buildings. We reported that although DHS recommends security improvements to other agencies, many of their recommendations aren't implemented. But DHS is taking steps to address our prior recommendations for improving its oversight—such as updating the way it reviews federal building security to include whether agencies have implemented security...

Biodefense:
National Biosurveillance Integration Center Has Taken Steps to Address Challenges, but Could Better Assess Results
GAO-24-106142
Published: Nov 29, 2023
Publicly Released: Nov 29, 2023
The Department of Homeland Security's National Biosurveillance Integration Center identifies and tracks biological events—such as avian flu—from thousands of data sources. This data helps to provide early warning and situational awareness about biological events to federal, state, and other partners. NBIC has been working to address data access and other challenges. But several milestones in its strategic plans are broad and there aren't clear timeframes...

Arctic Region:
Factors That Affect the Advancement of U.S. Priorities
GAO-24-107192
Published: Nov 29, 2023
Publicly Released: Nov 29, 2023
In the Arctic, warming temperatures and melting sea ice have opened new shipping routes but have also increased climate risks and international economic competition. Addressing these issues is a strategic priority for the U.S. government. We testified on factors that U.S. and foreign stakeholders identified that may help advance U.S. priorities, such as creating a new Ambassador for the Arctic region and providing scientific expertise...

GAO Agile Assessment Guide:
Best Practices for Adoption and Implementation
GAO-24-105506
Published: Nov 28, 2023
Publicly Released: Nov 28, 2023
Agile is an approach to software development in which software is developed incrementally and is continuously evaluated for functionality, quality, and customer satisfaction. Agile can reduce the risks of funding a program that fails or produces outdated technology. This updated guide presents federal auditors and others with best practices to assess the adoption and use of Agile processes in federal agencies and elsewhere. The federal...

VA Disability Benefits:
Board of Veterans' Appeals Should Address Gaps in Its Quality Assurance Process
GAO-24-106156
Published: Nov 29, 2023
Publicly Released: Nov 28, 2023
If the VA denies a veteran's benefit request, the veteran can bring the case to the Board of Veterans' Appeals. Congress has raised questions about the quality of the Board's decisions. We testified that as the Board faces large workloads and time pressure, quality assurance activities such as case reviews and decision monitoring are key tools for minimizing rework. But the Board could better use...  

Small Business Research Programs:
Information Regarding Subaward Use and Data Quality
GAO-24-106399
Published: Nov 28, 2023
Publicly Released: Nov 28, 2023
Agencies that participate in the Small Business Innovation Research and Small Business Technology Transfer programs have helped small businesses bring new technologies to market—such as a low-cost, energy-efficient alternative to fluorescent lights. Small businesses that receive these awards are allowed to use subcontractors and consultants (such as other companies, academic institutions, and nonprofits) to assist with these projects. We estimated that about 70% of award...

IASB

ISSB at COP28: Erkki Liikanen on progress and priorities to advance global sustainability disclosures
Speech
4 Dec 2023

ISSB at COP28: Emmanuel Faber to continue serving as ISSB Chair until end of 2027
Announcement
4 Dec 2023

ISSB at COP28: close to 400 organisations from 64 jurisdictions commit to advance the ISSB climate global baseline
Announcement
4 Dec 2023

ISSB at COP28: IFRS Foundation and ISO commit to future cooperation towards effective communication about sustainability-related risks and opportunities
Announcement
3 Dec 2023

November 2023 monthly news summary now available
News Summary
1 Dec 2023

December 2023 SME Implementation Group agenda and meeting papers now available
Meeting
1 Dec 2023

ISSB at COP28: IFRS Foundation launches Knowledge Hub in support of global drive to build capacity for the ISSB Standards
Announcement
1 Dec 2023

ISSB at COP28: Multilateral Development Banks confirm support for work of the ISSB as world leaders gather at COP28 Announcement
30 Nov 2023

IFRS Foundation implements focused updates to IFRS.org
Announcement
29 Nov 2023

Join the staff—Executive Assistant to ISSB Vice-Chair (Maternity Cover)
Careers
29 Nov 2023

IASB consults on improved accounting requirements for financial instruments with both debt and equity features
Consultation
29 Nov 2023

IASB Member Ann Tarca explains proposed changes to IFRS Accounting Taxonomy 2023
Video
28 Nov 2023

IRS

National Tax Security Awareness Week, Day 5: As tax season approaches, IRS, Security Summit partners warn taxpayers, tax professionals to watch out for emerging scams by email, text, phone
IR-2023-229, Dec. 1, 2023 — To wrap up National Tax Security Awareness Week, the Internal Revenue Service and the Security Summit partners today reminded taxpayers and tax professionals to stay alert against emerging scams during the upcoming filing season and throughout the year.

Treasury, IRS provide guidance for those who manufacture new clean vehicles IR-2023-228, Dec. 1, 2023 — The Department of the Treasury and the Internal Revenue Service today issued two items of guidance on the excluded entity restriction of the section 30D clean vehicle credit, as amended by the Inflation Reduction Act.

National Tax Security Awareness Week, Day 4: Summit partners urge businesses to take steps to prevent data loss, fraud
IR-2023-227, Nov. 30, 2023 – As part of National Tax Security Awareness Week, the Internal Revenue Service and the Security Summit partners today urged businesses to remain vigilant against cyberattacks aimed at stealing their customer's personal information and other business data that can help identity thieves.

National Tax Security Awareness Week, Day 3: IRS Identity Protection PIN can help avoid fraud and tax-related identity theft
IR-2023-226, Nov. 29, 2023 — As part of ongoing efforts to increase security, the Internal Revenue Service and the Security Summit partners today reminded taxpayers they can get extra protection against identity theft during the 2024 tax season by joining the IP PIN program.

IRS supports international efforts to fight fraud during Charity Fraud Awareness Week
IR-2023-225, Nov. 28, 2023 — On Giving Tuesday and as part of Charity Fraud Awareness Week, the Internal Revenue Service highlighted its continued support of international efforts to fight fraud and charity scams.

National Tax Security Awareness Week, Day 2: Security Summit reminds tax pros about importance of written security plans and data breach response; special webinar planned for Nov. 30
IR-2023-224, Nov. 28, 2023 — As part of a larger effort to protect taxpayers against identity theft, the Internal Revenue Service and the Security Summit partners today reminded tax professionals to protect themselves and their client’s sensitive information, including putting in place written security plans and following new requirements to use multi-factor authentication.

NYS

DFS Announces $1 Million Cybersecurity Settlement With First American Title Insurance Company
November 28, 2923

PCAOB

Chair Williams Statement on the PCAOB’s Enforcement Orders Against China-Based Firms
Nov. 30, 2023

Imposing $7.9 Million in Total Fines, PCAOB Sanctions Three China-Based Firms and Four Individuals in Historic Settlements
Nov. 30, 2023

VIDEO: Chair Williams Keynotes Baruch College’s 18th Annual Audit Conference
Nov. 28, 2023

PCAOB Sanctions Three Firms for Failing to Make Required Disclosures
Nov. 28, 2023

Following Sweep, PCAOB Sanctions Three Audit Firms for Failing to Disclose Who Worked on Audits
Nov. 28, 2023

SEC

SEC Investor Advisory Committee to Examine Use of Complex Investment Products and Strategies by Self-Directed Investors and Discuss Practical Applications for Enhancing Financial Literacy at December 7 Meeting
2023-243
Washington D.C., Nov. 30, 2023 — The Securities and Exchange Commission’s Investor Advisory Committee will hold a virtual public meeting on December 7 at 10:30 a.m. ET. The meeting will be webcast on the SEC website.

SEC Charges Phoenix-Area Real Estate Fund Adviser Jonathan Larmore with $35 Million Fraud 
2023-242
Washington D.C., Nov. 29, 2023 — The Securities and Exchange Commission today announced fraud charges against Phoenix-based real estate investment company ArciTerra Companies LLC and its CEO, Jonathan M. Larmore, for engaging in a multi-year scheme to misappropriate millions of dollars of investor funds from investment vehicles that ArciTerra managed. The SEC also charged several entities controlled by Larmore for their roles in the scheme.

SEC Names Kate E. Zoladz as Regional Director of Los Angeles Office
2023-241
Washington D.C., Nov. 29, 2023 — The Securities and Exchange Commission today announced that Kate E. Zoladz has been named Regional Director of the Los Angeles Office, effective Dec. 3, 2023. Ms. Zoladz has served as Acting Co-Director since June 2023 and as the Associate Regional Director for Enforcement since October 2019. She joined the agency in 2010.

SEC Adopts Rule to Prohibit Conflicts of Interest in Certain Securitizations
2023-240
Washington D.C., Nov. 27, 2023 — The Securities and Exchange Commission today adopted Securities Act Rule 192 to implement Section 27B of the Securities Act of 1933, a provision added by Section 621 of the Dodd-Frank Act. The rule is intended to prevent the sale of asset-backed securities (ABS) that are tainted by material conflicts of interest. It prohibits a securitization participant, for a specified period of time, from engaging, directly or indirectly, in any transaction that would involve or result in any material conflict of interest between the securitization participant and an investor in the relevant ABS. Under new Rule 192, such transactions would be “conflicted transactions.”

TIGTA

Improvements Are Needed to Ensure Effective and Timely Processing of Post-Appointment Arrest Notifications
November 29, 2023