AICPA 

Press Release
Children’s Allowance Pay is Up - Amount Saved Alarmingly Low: AICPA Survey
AICPA survey explores the opinions of Americans regarding their attitudes and behaviors surrounding child money management and perceptions of allowances.
October 1, 2019

CBO

Cost Estimate
H.R. 2405, National Sea Grant College Program Amendments Act of 2019
September 30, 2019
As ordered reported by the House Committee on Natural Resources on September 18, 2019

Cost Estimate
H.R. 729, Tribal Coastal Resiliency Act
September 30, 2019
As ordered reported by the House Committee on Natural Resources on September 25, 2019

Cost Estimate
H.R. 925, North American Wetlands Conservation Extension Act
September 30, 2019
As ordered reported by the House Committee on Natural Resources on September 25, 2019

Presentation
Budgeting for Federal Insurance and Retirement Programs: Cash or Accrual?
September 27, 2019
Presentation by Megan Carroll, chief of the scorekeeping unit in CBO’s Budget Analysis Division, and David Torregrosa, an analyst in CBO’s Financial Analysis Division, at the annual conference of the Association for Budgeting and Financial Management.

Cost Estimate
H.R. 182, a bill to extend the authorization for the Cape Cod National Seashore Advisory Commission
September 27, 2019
As ordered reported by the House Committee on Natural Resources on September 18, 2019

Cost Estimate
H.R. 3614, Restricting Credit Checks for Employment Decisions Act
September 27, 2019
As ordered reported by the House Committee on Financial Services on July 11, 2019

Cost Estimate
H.R. 737, Shark Fin Sales Elimination Act of 2019
September 27, 2019
As ordered reported by the House Committee on Natural Resources on September 18, 2019

Cost Estimate
H.R. 823, Colorado Outdoor Recreation and Economy Act
September 27, 2019
As ordered reported by the House Committee on Natural Resources on June 26, 2019

Presentation
Congressional Proposals Related to a Lapse in Appropriations
September 26, 2019
Presentation by Justin Riordan, an analyst in CBO’s Budget Analysis Division, at the annual conference of the Association for Budgeting and Financial Management.

Report
Employment of People Ages 55 to 79
September 26, 2019
From 1995 to 2018, the share of people ages 55 to 79 who were employed increased from 33 percent to 44 percent. CBO examines the changing demographic characteristics of older people and the effects several factors may have on their rate of employment.

Cost Estimate
H.R. 1225, Restore Our Parks and Public Lands Act
September 26, 2019
As ordered reported by the House Committee on Natural Resources on June 26, 2019

Cost Estimate
H.R. 1314, Integrated Coastal and Ocean Observation System Act Amendments of 2019
September 26, 2019
As ordered reported by the House Committee on Natural Resources on September 18, 2019

Cost Estimate
H.R. 2490, a bill to amend the National Trails System Act to direct the Secretary of the Interior to conduct a study on the feasibility of designating the Chief Standing Bear National Historic Trail, and for other purposes
September 26, 2019
As ordered reported by the House Committee on Natural Resources on September 18, 2019

Cost Estimate
H.R. 560, Northern Mariana Islands Residents Relief Act
September 26, 2019
As ordered reported by the House Committee on Natural Resources on September 18, 2019

Cost Estimate
Status of CBO’s cost estimate for S. 2543, the Prescription Drug Pricing Reduction Act of 2019
September 26, 2019
Letter to the Honorable Chuck Grassley

Cost Estimate
H.R. 1218, American Fisheries Advisory Committee Act
September 25, 2019
As ordered reported by the House Committee on Natural Resources on September 18, 2019

Cost Estimate
H.R. 2004, Ensuring FEDVIP and FLTCIP Coverage During Shutdowns Act
September 25, 2019
As ordered reported by the House Committee on Oversight and Reform on June 12, 2019

Cost Estimate
H.R. 2181, Chaco Cultural Heritage Area Protection Act of 2019
September 25, 2019
As ordered reported by the House Committee on Natural Resources on July 17, 2019

Cost Estimate
H.R. 2548, Hazard Eligibility and Local Projects Act
September 25, 2019
As ordered reported by the House Committee on Transportation and Infrastructure on June 26, 2019

Cost Estimate
H.R. 1773, Rosie the Riveter Congressional Gold Medal Act of 2019
September 24, 2019
As introduced on March 14, 2019

Cost Estimate
H.R. 2203, the Homeland Security Improvement Act of 2019
September 24, 2019
CBO’s Estimate of the Statutory Pay-As-You-Go Effects of Rules Committee Print 116-27, as Reported by the House Committee on Homeland Security, with Modifications

Cost Estimate
H.R. 2211, STURDY Act
September 23, 2019
As ordered reported by the House Committee on Energy and Commerce on July 17, 2019

Cost Estimate
H.R. 263, a bill to rename the Oyster Bay National Wildlife Refuge as the Congressman Lester Wolff Oyster Bay National Wildlife Refuge
September 23, 2019
As ordered reported by the House Committee on Natural Resources on September 18, 2019

Cost Estimate
H.R. 3190, BURMA Act of 2019
September 23, 2019
As posted on the website of the House Majority Leader on September 20, 2019

Cost Estimate
H.R. 3702, Reforming Disaster Recovery Act of 2019
September 23, 2019
As ordered reported by the House Committee on Financial Services on July 16, 2019

FASB

FASB Roundtable on Identifiable Intangible Assets and Subsequent Accounting for Goodwill Invitation to Comment Set for November 15  [09/30/19]
Media Advisory

Not-for-Profit Advisory Committee  [09/27/19]
September 16-17, 2019 Meeting Recap

Remarks of FASB Member R. Harold Schroeder, ThinkBIG 2019 Conference, Orlando, FL  [09/26/19]
Speech

GAO

Indian Health Service:
Facilities Reported Expanding Services Following Increases in Health Insurance Coverage and Collections
GAO-19-612: Published: Sep 3, 2019. Publicly Released: Oct 1, 2019.

Immigration Benefits:
Additional Actions Needed to Address Fraud Risks in Program for Foreign National Victims of Domestic Abuse
GAO-19-676: Published: Sep 30, 2019. Publicly Released: Sep 30, 2019.

Veterans Affairs:
Additional Actions Needed to Increase Veterans' Burial Access
GAO-19-121: Published: Sep 30, 2019. Publicly Released: Sep 30, 2019.

Warfighter Support:
Actions Needed to Improve Explosive Ordnance Disposal Forces Planning
GAO-19-698: Published: Sep 30, 2019. Publicly Released: Sep 30, 2019.

Compacts of Free Association:
Trust Funds for Micronesia and the Marshall Islands Are Not Likely to Fully Replace Expiring U.S. Annual Grant Assistance
GAO-19-722T: Published: Sep 26, 2019. Publicly Released: Sep 26, 2019.

Federal Contracting:
Information on Agencies' Use of the Lowest Price Technically Acceptable Process
GAO-19-691: Published: Sep 26, 2019. Publicly Released: Sep 26, 2019.

Small Business Research Programs:
Many Agencies Took Longer to Issue Small Business Awards than Recommended
GAO-19-620: Published: Sep 26, 2019. Publicly Released: Sep 26, 2019.

Support Service Contracts:
NNSA Could Better Manage Potential Risks of Contractors Performing Inherently Governmental Functions
GAO-19-608: Published: Sep 26, 2019. Publicly Released: Sep 26, 2019.

Bank Secrecy Act:
Agencies and Financial Institutions Share Information but Metrics and Feedback Not Regularly Provided
GAO-19-582: Published: Aug 27, 2019. Publicly Released: Sep 26, 2019.

Coast Guard Shore Infrastructure:
Actions Needed to Better Manage Assets and Reduce Risks and Costs
GAO-19-711T: Published: Sep 25, 2019. Publicly Released: Sep 25, 2019.

Coast Guard Shore Infrastructure:
Processes for Improving Resilience Should Fully Align with DHS Risk Management Framework
GAO-19-675: Published: Sep 25, 2019. Publicly Released: Sep 25, 2019.

Federal Workforce:
Talent Management Strategies to Help Agencies Better Compete in a Tight Labor Market
GAO-19-723T: Published: Sep 25, 2019. Publicly Released: Sep 25, 2019.

Marine Debris:
Interagency Committee Members Are Taking Action, but Additional Steps Could Enhance the Federal Response
GAO-19-653: Published: Sep 25, 2019. Publicly Released: Sep 25, 2019.

Reverse Mortgages:
FHA Needs to Improve Monitoring and Oversight of Loan Outcomes and Servicing
GAO-19-702: Published: Sep 25, 2019. Publicly Released: Sep 25, 2019.

Reverse Mortgages:
FHA's Oversight of Loan Outcomes and Servicing Needs Strengthening
GAO-19-721T: Published: Sep 25, 2019. Publicly Released: Sep 25, 2019.

Critical Infrastructure Protection:
Actions Needed to Address Significant Cybersecurity Risks Facing the Electric Grid
GAO-19-332: Published: Aug 26, 2019. Publicly Released: Sep 25, 2019.

Animal Use in Research:
Federal Agencies Should Assess and Report on Their Efforts to Develop and Promote Alternatives
GAO-19-629: Published: Sep 24, 2019. Publicly Released: Sep 24, 2019.

Federal Energy Development:
Challenges to Ensuring a Fair Return for Federal Energy Resources
GAO-19-718T:Published: Sep 24, 2019. Publicly Released: Sep 24, 2019.

Foreign Military Sales:
DOD Should Strengthen Oversight of Its Growing Transportation Account Balances
GAO-19-678: Published: Sep 24, 2019. Publicly Released: Sep 24, 2019.

Veterans Health Care:
VA Needs to Improve Its Allocation and Monitoring of Funding
GAO-19-670: Published: Sep. 23, 2019 Publicly Released: Sep. 23, 2019

GASB

GASB Proposes Guidance on Replacement of Interbank Offered Rates with New Reference Rates  [09/26/19]
Media Advisory
Exposure Draft

IASB

30 September 2019
World Standard-setters Conference 2019

30 September 2019
2020—opportunities and challenges

27 September 2019
Capital Markets Advisory Committee—October meeting agenda papers available

27 September 2019
September 2019 IASB Update published

26 September 2019
IASB amends IFRS Standards in response to the IBOR reform

25 September 2019
September 2019 IFRIC Update published

IRS

IRS grants relief for U.S. persons who own stock in certain foreign corporations
IR-2019-162, October 1, 2019 — The Department of the Treasury and the Internal Revenue Service today issued Revenue Procedure 2019-40 and proposed regulations that provides relief to certain U.S. persons that own stock in certain foreign corporations.

IRS relief provides drought-stricken farmers, ranchers more time to replace livestock
IR-2019-161, September 30, 2019 — Farmers and ranchers who were forced to sell livestock due to drought may have an additional year to replace the livestock and defer tax on any gains from the forced sales, according to the IRS.

IRS releases draft 2019 Forms 1065, 1120-S, and Schedules K-1
IR-2019-160, September 30, 2019 – Today the IRS issued a draft of the tax year 2019 Form 1065, U.S. Return of Partnership Income, and its Schedule K-1, Partner’s Share of Income, Deductions, Credits, etc.

IRS releases new Tax Gap estimates; compliance rates remain substantially unchanged from prior study
IR-2019-159, September 26, 2019 — IRS releases new Tax Gap estimates; compliance rates remain substantially unchanged from prior study 

IRS finalizes safe harbor to allow rental real estate to qualify as a business for qualified business income deduction
IR-2019-158, September 24, 2019 — The Internal Revenue Service today issued Revenue Procedure 2019-38 that has a safe harbor allowing certain interests in rental real estate, including interests in mixed-use property, to be treated as a trade or business for purposes of the qualified business income deduction under section 199A of the Internal Revenue Code (section 199A deduction).

NYS Dept. of Taxation and Finance

Hamburg Restauranteur Agrees to Pay $40,000 Following Guilty Plea
September 25, 2019​

SEC

SEC’s Message for 2019 World Investor Week: Start Early 
2019-203, Oct. 1, 2019 —The Securities and Exchange Commission today announced that during World Investor Week staff will participate in more than 50 events around the country encouraging individuals to start early to save and invest for their futures. SEC staff will also provide information on how to choose an investment professional and the importance of diversification.

SEC Orders Blockchain Company to Pay $24 Million Penalty for Unregistered ICO
2019-202, Sept. 30, 2019 —The Securities and Exchange Commission today announced settled charges against blockchain technology company Block.one for conducting an unregistered initial coin offering of digital tokens (ICO) that raised the equivalent of several billion dollars over approximately one year.  The company agreed to settle the charges by paying a $24 million civil penalty.

SEC Charges Hedge Fund Adviser and Top Executives With Fraud
2019-201, Sept. 30, 2019 —The Securities and Exchange Commission today charged SBB Research Group, LLC, a Chicago-area hedge fund adviser and its two top executives with a multi-year fraud that inflated fund values.

SEC Orders an Additional 16 Self-Reporting Advisory Firms to Pay Nearly $10 Million to Investors
2019-200, Sept. 30, 2019 —The Securities and Exchange Commission today announced settled charges against 17 investment advisers for disclosure failures regarding their mutual fund share class selection practices. The firms include 16 advisers that self-reported as part of the Division of Enforcement’s Share Class Selection Disclosure Initiative and one adviser that did not self-report and was ordered to pay a $300,000 civil penalty.

Two BMO Advisory Firms Pay Over $37 Million to Harmed Clients for Failing to Disclose Conflicts of Interest
2019-199 , Sept. 27, 2019 —The Securities and Exchange Commission today announced that two BMO advisers have agreed to pay over $37 million to settle charges regarding their failure to tell clients about certain aspects of how the advisers selected investments in their retail investment advisory program, known as the Managed Asset Allocation Program (MAAP), which included the selection of more expensive investments from which BMO advisers profited.

SEC Updates List of Firms Using Inaccurate Information to Solicit Investors
2019-198 , Sept. 27, 2019 —The Securities and Exchange Commission today announced that it updated its list of unregistered entities that use misleading information to solicit primarily non-U.S. investors, adding 23 soliciting entities, two impersonators of genuine firms, and 12 bogus regulators.

SEC Charges Canadian Clean Fuel Technology Company and Former CEO with FCPA Violations
2019-197, Sept. 27, 2019 —The Securities and Exchange Commission today announced that Westport Fuels Systems, Inc., a Canadian clean fuel technology company headquartered in Vancouver, Canada, and its former chief executive officer, Nancy Gougarty, of Leesville, South Carolina, have agreed to pay more than $4.1 million to resolve charges that they violated the Foreign Corrupt Practices Act (FCPA) by paying bribes to a foreign government official in China.

Automaker to Pay $40 Million for Misleading Investors
2019-196 , Sept. 27, 2019 —The Securities and Exchange Commission today charged Michigan-based automaker FCA US LLC, and its parent company, Fiat Chrysler Automobiles N.V., for misleading investors about the number of new vehicles sold each month to customers in the United States.  FCA US and Fiat Chrysler Automobiles have agreed to pay $40 million to settle the charges.

Herbalife to Pay $20 Million for Misleading Investors
2019-195, Sept. 27, 2019 —The Securities and Exchange Commission today announced that Herbalife Nutrition Ltd.—a direct selling company with operations in over 90 countries— has agreed to pay $20 million to settle charges that it made false and misleading statements about its China business model in numerous U.S. regulatory filings over a six-year period.

Mylan to Pay $30 Million for Disclosure and Accounting Failure Relating to EpiPen
2019-194, Sept. 27, 2019 —The Securities and Exchange Commission today announced charges against Pennsylvania-based pharmaceutical company Mylan N.V. for accounting and disclosure failures relating to a Department of Justice (DOJ) probe into whether Mylan overcharged Medicaid by hundreds of millions of dollars for EpiPen, its largest revenue and profit generating product. Mylan agreed to pay $30 million to settle the SEC's charges.

SEC Charges Marketing and Printing Services Provider with FCPA Violations
2019-193, Sept. 26, 2019 —The Securities and Exchange Commission today announced that Quad/Graphics Inc., a Wisconsin-based digital and print marketing provider, has agreed to pay nearly $10 million to resolve charges that it violated the Foreign Corrupt Practice Act (FCPA) by engaging in multiple bribery schemes in Peru and China.

SEC Retail Strategy Task Force to Host Roundtable on Combating Elder Investor Fraud
2019-192, Sept. 26, 2019 —The Securities and Exchange Commission Retail Strategy Task Force will host a roundtable on Oct. 3 on combating elder investor fraud. The roundtable will focus on the types of fraudulent and manipulative schemes currently targeting elder investors. The roundtable also will explore views from a broad range of regulators and industry experts on potential steps regulators, broker-dealers, investment advisers, and others can take to identify and combat elder investor fraud.

SEC Charges Three Individuals with Deceiving Main Street Investors Through the Sale of Binary Options
2019-191., Sept. 26, 2019 —The Securities and Exchange Commission today charged three foreign individuals, Gil Beserglik, Raz Beserglik and Kai Christian Petersen, with deceiving U.S. investors, including vulnerable retirees, and causing them to lose tens of millions of dollars through fraudulent, online sales of high-risk securities known as binary options.

SEC Adopts New Rule to Modernize Regulation of Exchange-Traded Funds
2019-190, Sept. 26, 2019 —The Securities and Exchange Commission today announced that is has voted to adopt a new rule and form amendments that are designed to modernize the regulation of exchange-traded funds (ETFs), by establishing a clear and consistent framework for the vast majority of ETFs operating today.  The adoption will facilitate greater competition and innovation in the ETF marketplace, leading to more choice for investors.  It also will allow ETFs to come to market more quickly without the time or expense of applying for individual exemptive relief.  In addition, the Commission voted to issue an exemptive order that further harmonizes related relief for broker-dealers.

SEC Proposes Amendments to Enhance Retail Investor Protections
2019-189, Sept. 26, 2019 —The Securities and Exchange Commission today announced that it has voted to propose amendments to Exchange Act Rule 15c2-11, which sets out certain requirements with which a broker-dealer must comply before it can publish quotations for securities in the over-the-counter (“OTC”) market.  The proposed amendments are designed to modernize the Rule, which was last substantively amended in 1991, and to enhance investor protection by requiring that current and publicly available issuer information is accessible to investors.  The proposed amendments would provide greater transparency to the investing public by requiring that information about the issuer and the security be current and publicly available before a broker-dealer can begin quoting that security.

SEC Adopts New Rule to Allow All Issuers to “Test-the-Waters”
2019-188, Sept. 26, 2019 —The Securities and Exchange Commission today announced that it has voted to adopt a new rule that extends a “test-the-waters” accommodation—currently a tool available to emerging growth companies or “EGCs”—to all issuers.  Under the new rule, all issuers will be allowed to gauge market interest in a possible initial public offering or other registered securities offering through discussions with certain institutional investors prior to, or following, the filing of a registration statement.

SEC Charges TMC Bonds With Failing to Protect Confidential Subscriber Information
2019-187., Sept. 24, 2019 —The Securities and Exchange Commission today announced that TMC Bonds LLC, operator of an alternative trading system (ATS) for fixed income securities, has agreed to pay $2.1 million to settle charges arising from TMC Bonds’ failure to protect confidential subscriber information. 

SEC Charges Comscore Inc. and Former CEO with Accounting and Disclosure Fraud
2019-186, Sept. 24, 2019 —The Securities and Exchange Commission today charged global information and media analytics firm, Comscore, Inc., and its former CEO with engaging in a fraudulent scheme to overstate revenue by approximately $50 million and making false and misleading statements about key performance metrics.

SEC Brings New Charges in Multimillion Dollar Boiler Room Schemes
2019-185, Sept. 23, 2019 —The Securities and Exchange Commission today announced new charges arising from a New York-based boiler-room scheme, alleging that Benjamin Conde orchestrated the manipulation of millions of shares of Renewable Energy and Power Inc. (RBNW), generating approximately $3.1 million in illegal procee

SEC Charges PwC LLP With Violating Auditor Independence Rules and Engaging in Improper Professional Conduct
2019-184, Sept. 23, 2019 —The Securities and Exchange Commission today charged accounting firm PricewaterhouseCoopers LLP with improper professional conduct in connection with 19 engagements on behalf of 15 SEC-registered issuers and violating auditor independence rules in connection with engagements for one issuer where the firm performed prohibited non-audit services. The SEC also charged PwC partner Brandon Sprankle with causing the firm’s independence violations. Both respondents have agreed to settle the charges and PwC will pay over $7.9 million in monetary relief.

TIGTA

The Use of Schedule K-1 Data to Address Taxpayer Noncompliance Can Be Improved
Report Date: 09/27/2019
Audit Highlights: HTML
Audit Reports: PDF

Fiscal Year 2019 Statutory Review of Potential Fair Tax Collection Practices Violations
Report Date: 09/26/2019
Audit Highlights: HTML
Audit Reports: PDF

Strengthened Validation Controls Are Needed to Protect Against Unauthorized Filing and Input of Fraudulent Information Returns
Report Date: 09/26/2019
Audit Highlights: HTML
Audit Reports: PDF

Processes Do Not Adequately Reduce the Risk That Outside Employment Activities Will Conflict With Employees’ Official Duties
Report Date: 09/25/2019
Audit Highlights: HTML
Audit Reports: PDF

Processes and Procedures for Rehiring Employees With Prior Conduct or Performance Issues Were Implemented but Not Always Followed
Report Date: 09/25/2019
Audit Highlights: HTML
Audit Reports: PDF

Firewall Administration Needs Improvement
Report Date: 09/24/2019
Audit Highlights: HTML
Audit Reports: PDF