As ordered reported by the Senate Committee on Foreign Relations on June 5, 2025

As ordered reported by the House Committee on Oversight and Government Reform on March 25, 2025

GASB

GAO

The Council on Environmental Quality advises the President on environmental issues. The council received $62.5 million in appropriations from the Inflation Reduction Act of 2022 to collect data and improve federal environmental reviews. This is more than ten times what the council typically gets annually. In December 2024, $46 million of the funds were still available. They expire on September 30, 2026. After we told...

Since 1991, the Department of Transportation's Congestion Mitigation and Air Quality Improvement Program has funded transportation projects that aim to reduce vehicle emissions. DOT created a tool for states to evaluate the cost-effectiveness of these projects. We found that DOT hasn't routinely communicated with states about this tool. About a third of the states we surveyed said they were unaware of it. We recommended that...

Each day, millions of Americans use public transit like light rail or buses. In 2025, the Capital Investment Grants Program funded about $3.8 billion in grants for transit construction projects, such as extensions to existing light rail systems. The Federal Transit Administration offers trainings and other assistance to help transit agencies and other grant applicants. Most are pleased with this support but suggested improvements like...

Since 2018, the Army has ramped up its modernization of air and missile defense systems to protect equipment, personnel, and facilities from threats like cruise missiles and rockets. The Army identified seven of these modernization efforts and increased its budget requests to $11.8 billion to support them. But the Army hasn't fully applied leading practices for product development to these efforts. For example, none of...

Published: Jun 17, 2025 . Publicly Released: Jun 17, 2025 .

Published: Jun 10, 2025 . Publicly Released: Jun 17, 2025 .

As of June 2024, over 200,000 federal employees (9% of the federal workforce) worked remotely across the country. Since then, the President directed agencies to cancel remote work arrangements, but with exceptions for military and Foreign Service spouses and people with disabilities, among others. The Office of Personnel Management also canceled guidance for agencies to assess how remote work affects their operations and missions, even...

Unions negotiate with employers about pay, safety, and policies. The Labor Department's Office of Labor-Management Standards aims to ensure that unions are transparent in their finances and protect the democratic rights of their members. The office audits, investigates, and helps unions comply. When the office finds a problem—such as a recordkeeping violation that could make union funds vulnerable to theft—it mostly relies on voluntary compliance...

Published: Jun 9, 2025 . Publicly Released: Jun 16, 2025 .

Russia's 2022 invasion made it harder for Ukraine to safely operate its nuclear power plants and secure sites with radioactive materials, which could be used for dirty bombs. U.S. assistance has included providing radiation detectors and emergency power systems. The war also complicated routine fraud prevention measures. For example, it made it harder to verify that purchased equipment was delivered and working. We found the...

The Department of Defense spent, or planned to spend, $10.9 billion to maintain its IT business programs in FYs 2023-25. In our annual assessment, we reviewed 24 of those programs. DOD didn't report required performance measures on all of them—like customer satisfaction levels. We also found: 2 programs didn't have a strategy in place to reduce cybersecurity threats 4 programs hadn't developed plans to implement...

The Financial Audit Manual (FAM) presents a methodology for performing financial statement audits of federal entities in accordance with professional standards. It is a tool for enhancing accountability over taxpayer-provided resources. This June 2025 revision replaces Financial Audit Manual, Volume 1 (June 2024 version) and contains the audit methodology. The FAM's other volumes are: Volume 2: detailed implementation guidance Volume 3: the Federal Financial Reporting...

After the Exxon Valdez oil spill in 1989, federal and Alaska state agencies formed a joint office to oversee the Trans-Alaska Pipeline System. The joint office continues to coordinate oversight but has scaled back shared activities since its formation. We found the agencies work together well in some areas but haven't updated common goals. For example, the joint office has a goal to issue public...

Authorized federal agencies can use the Defense Production Act to ensure resources critical to national security are available during a public emergency. This can include requiring U.S. companies that make up the "industrial base" to prioritize orders or contracts for goods or services. We testified about the use of such authorities since the act's 2018 reauthorization. For example, agencies spent $3.2 billion to bolster the...

The Defense Production Act authorizes the President to invest in industrial production—and more—to ensure the availability of needed goods and services. This Q&A examines how executive agencies have used this authority and others in the act. Since 2018, agencies have made $3.2 billion in industrial investments under the act. For example, agencies invested in ramping up production of personal protective equipment like gloves and masks...

The Department of Homeland Security's Continuous Diagnostics and Mitigation (CDM) program gives agencies cybersecurity tools to strengthen the networks and systems they use to meet their missions. While the program has met two of its goals, it lacks sufficient guidance for managing network security and data protection. The program generally supports government-wide cybersecurity initiatives, but DHS's Cybersecurity and Infrastructure Security Agency hasn't finalized all plans...

Since our last annual assessment, we found that major weapon costs continue to rise as DOD struggles to deliver innovative tech quickly. DOD has been using a streamlined process—known as the "MTA pathway"—to develop and deliver some weapons faster. But even programs on the MTA pathway face delays in developing technologies and getting them into the field. We recommended ensuring that new programs include leading...

On average, the Department of Defense takes almost 12 years to deliver the first version of a weapon system. That's not nearly fast enough to keep up with emerging threats or deliver innovative technology. DOD's development process takes so long because it's more traditional—with rigid, sequential steps. Reform efforts so far have mostly been workarounds to the current system. Our prior work has shown that...

How does IRS know that people are who they say they are when they file their taxes or access online taxpayer resources? IRS relies on one vendor, ID.me, to prove taxpayers' identities for many of its applications. Usually, the process entails uploading documentation—e.g., a driver's license—and providing biometric evidence, like a selfie. IRS monitors some aspects of the process, such as safeguarding taxpayer privacy—but can...

IASB

IFRS Foundation publishes guidance on disclosures about transition plans
23 Jun 2025

IASB issues revised Practice Statement on management commentary
23 Jun 2025

Using ISSB Standards with the revised Management Commentary Practice Statement
23 Jun 2025

Concept paper presented by IFRS Foundation Group of Fellows at Trustees June 2025 meeting
23 Jun 2025

20 Jun 2025

20 Jun 2025

IRS

IRS improves Pre-Filing Agreement tax certainty program for large business and international taxpayersIR-2025-69, June 17, 2025 — The Internal Revenue Service today announced improvements to its Pre-Filing Agreement (PFA) program to provide greater tax certainty for large business and international taxpayers.

Washington D.C., June 18, 2025 — The Securities and Exchange Commission today announced that David Saltiel, who has served as Acting Director of the Division of Trading and Markets, will depart the agency effective July 4, 2025.

TIGTA