AICPA
AICPA Honors Accounting Giant, Sidney Kess, Following Passing
Sept. 18, 2023
CBO
Presentation
CBO’s 2023 Long-Term Budget Projections
Presentation by Molly Dahl, CBO’s Long-Term Analysis Unit Chief, at the American Enterprise Institute’s panel discussion “Methodologies in Fiscal, Economic, and Health Spending Projections.”
Cost Estimate
Estimated Budgetary Effects of S. 2795, a bill to amend title 38, United States Code, to extend and modify certain authorities and requirements relating to the Department of Veterans Affairs, and for other purposesAs passed by the Senate on September 13, 2023
Cost Estimate
H.R. 1318, Women’s Suffrage National Monument Location Act
As ordered reported by the House Committee on Natural Resources on July 26, 2023
Cost Estimate
H.R. 1607, a bill to clarify jurisdiction with respect to certain Bureau of Reclamation pumped storage development, and for other purposes
As ordered reported by the House Committee on Natural Resources on July 19, 2023
Cost Estimate
H.R. 4259, Think Differently about Education Act of 2023
As ordered reported by the House Committee on Education and the Workforce on September 14, 2023
Cost Estimate
Legislation considered under suspension of the Rules of the House of Representatives during the week of September 25, 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.
Report
Answers to Questions for the Record Following a Hearing on Approaches to Reducing the Department of Defense’s Compensation Costs
The Senate Armed Services Committee’s Subcommittee on Personnel convened a hearing at which David E. Mosher, CBO’s Director of National Security Analysis, testified. This document provides CBO’s answers to questions for the record.
Cost Estimate
H.R. 2839, a bill to amend the Siletz Reservation Act to address the hunting, fishing, trapping, and animal gathering rights of the Confederated Tribes of Siletz Indians, and for other purposes
As ordered reported by the House Committee on Natural Resources on July 19, 2023
Cost Estimate
H.R. 1747, Blockchain Regulatory Certainty Act As ordered reported by the House Committee on Financial Services on July 26, 2023
Cost Estimate
H.R. 2969, Financial Technology Protection Act of 2023
As ordered reported by the House Committee on Financial Services on July 26, 2023
Presentation
The Federal Budget Process and the Role of the Congressional Budget Office
Presentation by Lara Robillard, an analyst in CBO’s Budget Analysis Division, to the Leadership Fellowship Program at the National Hispanic Medical Association.
Cost Estimate
CBO's Estimate for The Continuing Appropriations and Border Security Enhancement Act, 2024
As Posted on the Rules Committee Website on September 17, 2023 (https://rules.house.gov/bill/118/hr-0)
Cost Estimate
H.J. Res. 88, a joint resolution providing for Congressional disapproval under chapter 8 of title 5, United States Code, of the rule submitted by the Department of Education relating to “Improving Income Driven Repayment for the William D. Ford Federal Direct Loan Program and the Federal Family Education Loan (FFEL) Program”As ordered reported by the House Committee on Education and the Workforce on September 14, 2023
Cost Estimate
H.R. 5110, Protecting Hunting Heritage and Education Act
As ordered reported by the House Committee on Education and the Workforce on September 14, 2023
FASB
Not-for-Profit Advisory Committee Meeting Recap—September 7, 2023
September 19, 2023
Emerging Issues Task Force Meeting Recap—September 14, 2023
September 18, 2023
GAO
Medicaid Program Integrity:
Opportunities Exist for CMS to Strengthen Use of State Auditor Findings and Collaboration
GAO-23-105881
Published:
Publicly Released: States and the federal government work together to fund Medicaid and protect it from payment errors and fraud. State auditors provide independent reviews of their state's compliance with federal funding requirements and other program rules. Their findings reveal problems such as ineligible beneficiaries and errors in state spending. Federal Medicaid officials started using these findings and collaborating with state auditors to improve the program, but...
COVID-19 Provider Relief Fund:
HRSA Continues to Recover Remaining Payments Due from Providers
GAO-23-106083
Published:
Publicly Released: The Provider Relief Fund spent $135 billion to help health care providers with COVID -related expenses and lost revenue during the pandemic. Most of the relief payments—about $85 billion—went to hospital-based health systems and hospital-affiliated providers. To confirm that payments were accurate, the Health Resources and Services Administration took steps to review provider eligibility and if funds were used appropriately. In doing so, it found...
F-35 Aircraft:
DOD and the Military Services Need to Reassess the Future Sustainment Strategy
GAO-23-105341
Published:
Publicly Released:
In the coming decades, the Department of Defense plans to spend an estimated $1.7 trillion on nearly 2,500 F-35s. Most of the funds will go to operating, maintaining, and repairing the aircraft. DOD faces costly maintenance issues for the F-35, such as: Delays setting up military service depots—facilities to complete the most complex repairs Inadequate equipment to keep aircraft operational Maintenance and supply delays affecting...
Medicare Part D:
CMS Should Monitor Effects of Rebates on Drug Coverage and Spending
GAO-23-107056
Published:
Publicly Released:
This testimony discusses the key role of Medicare Part D drug coverage in giving beneficiaries access to innovative drug treatments. Coverage is provided by private insurance plans that vary in their costs and lists of covered drugs—known as "formularies." Drug makers may give plans rebates in exchange for preferred placement over competitors on formularies. The rebates may lower premiums, but they don't reduce beneficiaries' payments...
COVID-19:
U.S. Territory Experiences Could Inform Future Federal Relief
GAO-23-106050
Published:
Publicly Released: U.S. territories—American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, Puerto Rico, and the U.S. Virgin Islands—received more than $32 billion in COVID-19 relief funds through over 100 programs. Territory government officials said they funded key priorities, but some programs were easier to use than others because: Territory governments already knew how to administer and report on pre-existing programs Some agencies provided more support...
U.S. Postal Service:
Better Incorporating Leading Practices for Project Management Could Benefit Strategic Plan Implementation [Reissued with revisions on Sept. 19, 2023]
GAO-23-105297
Published:
Publicly Released:
The U.S. Postal Service has been on our High Risk List since 2009 due to ongoing financial woes. To help address its financial condition, and improve service, USPS developed a 10-year strategic plan that touches on all parts of its operations. USPS is implementing its ambitious plan through more than 100 ongoing projects. We reviewed USPS implementation policies to see how well they incorporated GAO...
Military Barracks:
Poor Living Conditions Undermine Quality of Life and Readiness
GAO-23-105797
Published:
Publicly Released:
Hundreds of thousands of service members live in military barracks. Concerns about poor living conditions and how DOD is managing the barracks go back decades. We observed barracks in poor condition, including some with safety risks like sewage overflow and inoperable fire systems. And some barracks don't meet DOD requirements for privacy or amenities. DOD doesn't have reliable information about barracks conditions, or how these...
Motor Carrier Operations:
Improvements Needed to Federal System for Collecting and Addressing Complaints against Truck, Moving, and Bus Companies
GAO-23-105972
Published:
Publicly Released: The Federal Motor Carrier Safety Administration aims to reduce crashes, injuries, and deaths involving large trucks and buses. To that end, FMCSA collects complaints against companies that operate these vehicles. The complaints can be related to safety—e.g., speeding or reckless driving—or to problems like unfair business practices. FMCSA reviews these complaints, but its guidance is not clear. Specifically, FMCSA guidance doesn't define key terms or...
GASB
GASB Adds Project on Subsequent Events to Current Technical Agenda
September 7, 2023
IASB
IASB to explore ways to improve reporting of climate-related and other uncertainties in the financial statements
Project update
20 Sep 2023
September 2023 FASB-IASB Education Meeting
Meeting
20 Sept 2023
September 2023 ISSB podcast now available
Podcast
20 Sep 2023
IFRIC Update September 2023
Update
20 Sep 2023
ISSB congratulates Task Force on Nature-related Financial Disclosures on finalised recommendations
Announcement
19 Sep 2023
September 2023 ISSB Update now available
Update
15 Sep 2023
IRS
IRS to establish special pass-through organization to help with high-income compliance efforts; new workgroup to blend current employees and new hires to focus on complex partnerships, other key areas
IR-2023-176, Sept. 20, 2023 — As work continues to focus more attention onto high-income compliance issues, the Internal Revenue Service announced plans today to establish a special area to focus on large or complex pass-through entities.
IRS, Electronic Tax Administration Advisory Committee select 8 new members
IR-2023-175, Sept. 19, 2023 — The Internal Revenue Service has selected eight new members for the Electronic Tax Administration Advisory Committee (ETAAC).
IRS reminder to storm victims in 3 states: File and pay by Oct. 16; most of California, parts of Alabama and Georgia affected
IR-2023-174, Sept. 19, 2023 — The Internal Revenue Service today reminded individuals and businesses in most of California and parts of Alabama and Georgia that their 2022 federal income tax returns and tax payments are due on Monday, Oct. 16, 2023.
NYS
DFS Superintendent Adrienne A. Harris Announces Update On Two Year Transformational Initiative to Strengthen DFS' Nation-Leading Virtual Currency Oversight
September 18, 2023
PCAOB
At September 28 Open Meeting, PCAOB to Consider Adoption of New Standard for the Auditor’s Use of Confirmation
Sep. 22, 2023
On October 26, PCAOB to Host Livestreamed Forum for Auditors of Small Businesses and Broker-Dealers
Sep. 21, 2023
PCAOB Issues Proposal to Strengthen Accountability for Contributing to Firm Violations
Sep. 19, 2023
SEC
SEC Charges Private Equity Fund Adviser American Infrastructure Funds for Breaching Its Duties
2023-193
Washington D.C., Sept. 22, 2023 — The Securities and Exchange Commission today announced that American Infrastructure Funds LLC (AIM), a Foster City, California-based registered investment adviser to private funds, agreed to pay more than $1.6 million to settle charges resulting from its acceleration of portfolio company monitoring fees, for transferring a private fund asset from funds nearing the end of their term to a new fund, and for loaning money from one private fund to another private fund advised by an affiliate.
SEC Charges Citadel Securities for Violating Order Marking Requirements of Short Sale Regulations
2023-192
Washington D.C., Sept. 22, 2023 — The Securities and Exchange Commission today announced settled charges against broker-dealer Citadel Securities LLC for violating a provision of Regulation SHO, the regulatory framework designed to address abusive short selling practices, which requires broker-dealers to mark sale orders as long, short, or short exempt. These records are routinely used by regulators in policing prohibited short selling activity. To settle the SEC’s charges, Miami-based Citadel Securities agreed to pay a $7 million penalty.
Goldman to Pay SEC $6 Million in Penalties for Providing Deficient Blue Sheet Data
2023-191
Washington D.C., Sept. 22, 2023 — The Securities and Exchange Commission today announced settled charges against Goldman Sachs & Co. LLC for failing to provide complete and accurate securities trading information, known as blue sheet data, to the SEC. Goldman agreed to pay a $6 million penalty to resolve the SEC's charges.
SEC Charges Mexico-based Company, its CEO, and Four Individuals in Ponzi Scheme Targeting Spanish-Speaking U.S. Investors
2023-190
Washington D.C., Sept. 21, 2023 — The Securities and Exchange Commission today announced charges against Mexico-based company Aras Investment Business Group S.A.P.I. de C.V., its CEO Armando Gutierrez Rosas, and four individuals for fraudulently raising at least $15 million from more than 450 retail investors in the U.S., most of whom were members of the Mexican American community.
SEC Approves Revised Privacy Act Rule
2023-189
Washington D.C., Sept. 20, 2023 — The Securities and Exchange Commission today approved a rule to revise the Commission’s regulations under the Privacy Act, which is the principal law governing the handling of personal information in the federal government. The final rule clarifies, updates, and streamlines the Commission’s Privacy Act regulations. In addition, the final rule revises procedural and fee provisions and eliminates unnecessary provisions. The final rule also allows for electronic methods to verify one’s identity and submit Privacy Act requests.
SEC Adopts Rule Enhancements to Prevent Misleading or Deceptive Investment Fund Names
2023-188
Washington D.C., Sept. 20, 2023 — The Securities and Exchange Commission today adopted amendments to the Investment Company Act “Names Rule,” which addresses fund names that are likely to mislead investors about a fund’s investments and risks. The amendments modernize and enhance the Names Rule and other names-related regulatory requirements to further the Commission’s investor protection goals and to address developments in the fund industry in the approximately 20 years since the rule was adopted.
SEC Charges California Resident with Multimillion Dollar Ponzi Scheme Targeting Tongan American Community
2023-187
Washington D.C., Sept. 19, 2023 — The Securities and Exchange Commission today charged Richmond, California resident Tilila Walker Sumchai with raising approximately $11.8 million from more than 1,000 investors through a fraudulent securities offering targeting members of the Tongan American community across the United States.
SEC Charges New York Firm Concord Management and Owner with Acting as Unregistered Investment Advisers to Billionaire Former Russian Official
2023-186
Washington D.C., Sept. 19, 2023 — The Securities and Exchange Commission today announced charges against Concord Management LLC of Tarrytown, New York, and its owner and principal, Michael Matlin, for operating as unregistered investment advisers to their only client—a wealthy former Russian official widely regarded as having political connections to the Russian Federation.
SEC Investor Advisory Committee to Discuss Exempt Offerings and Accredited Investors at September 21 Meeting
2023-185
Washington D.C., Sept. 19, 2023 — The Securities and Exchange Commission’s Investor Advisory Committee will hold a public, in-person, meeting on September 21 at 10 a.m. ET at the SEC Headquarters in Washington, D.C. The meeting will also be webcast on the SEC website.
SEC Charges CBRE, Inc. with Violating Whistleblower Protection Rule
2023-184
Washington D.C., Sept. 19, 2023 — The Securities and Exchange Commission today announced settled charges against CBRE, Inc. (CBRE), a Dallas-based commercial real estate services and investment firm and subsidiary of publicly traded CBRE Group, Inc., for using an employee release that violated the SEC’s whistleblower protection rule.
SEC Issues New Strategic Plan for Diversity, Equity, Inclusion, and Accessibility
2023-183
Washington D.C., Sept. 18, 2023 — The Securities and Exchange Commission today announced that it has posted to sec.gov the agency’s Diversity, Equity, Inclusion, and Accessibility (DEIA) Strategic Plan for fiscal years 2023-2026 that builds on and advances the SEC’s DEIA commitment and previous successes.