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Auditing and Its Regulators: Reforms After Enron

Description: Auditors are regulated by both governmental agencies and professional organizations, though many now question whether this oversight is adequate. Enron’s auditor, Arthur Andersen, has been investigated by the U.S. Securities and Exchange Commission (SEC), several congressional committees, and other agencies, and it is facing numerous law suits. A federal jury convicted the firm on obstruction of justice charges on June 15, 2002. Other corporations and their auditors are also under scrutiny. Numerous accounting and audit reforms have been proposed, including some by the accounting industry. The House passed an audit reform bill (H.R. 3763) on April 24, 2002. The Senate passed an amended version of its bill (S. 2673) on July 15th. The SEC published proposed reform rules June 26th; on the 28th it required top executives in companies with revenues exceeding $1.2 billion to personally certify that filed reports are complete and accurate
Date: February 3, 2003
Creator: Lyke, Bob
Partner: UNT Libraries Government Documents Department

Auditing and Its Regulators: Reforms After Enron

Description: Auditors are regulated by both governmental agencies and professional organizations, though many now question whether this oversight is adequate. Enron’s auditor, Arthur Andersen, has been investigated by the U.S. Securities and Exchange Commission (SEC), several congressional committees, and other agencies, and it is facing numerous law suits. A federal jury convicted the firm on obstruction of justice charges on June 15, 2002. Other corporations and their auditors are also under scrutiny. Numerous accounting and audit reforms have been proposed, including some by the accounting industry. The House passed an audit reform bill (H.R. 3763) on April 24, 2002. The Senate passed an amended version of its bill (S. 2673) on July 15th. The SEC published proposed reform rules June 26th; on the 28th it required top executives in companies with revenues exceeding $1.2 billion to personally certify that filed reports are complete and accurate
Date: September 3, 2002
Creator: Lyke, Bob
Partner: UNT Libraries Government Documents Department

Stock Options: The Accounting Issue and Its Consequences

Description: The Financial Accounting Standards Board (FASB) has issued a long-anticipated rule that stock options must be recognized as an expense on corporation income statements. The previous accounting rule permitted but did not require recognition; corporations that elected to omit the cost of options, as most did, have been able to report higher earnings. This report examines the debate surrounding the issue and discusses the potential consequences.
Date: November 15, 2005
Creator: Lyke, Bob & Shorter, Gary
Partner: UNT Libraries Government Documents Department

Puerto Rico and Health Care Finance: Frequently Asked Questions

Description: This report provides answers to frequently asked questions (FAQs) about Puerto Rico's health care system, including how federal health care programs (Medicare, Medicaid, and the State Children's Health Insurance Program [CHIP]) and private health insurance requirements apply to Puerto Rico.
Date: November 18, 2015
Creator: Mach, Annie L.
Partner: UNT Libraries Government Documents Department

Tax Credit Bonds: A Brief Explanation

Description: This report provides a brief explanation on tax credit bonds (TCBs). The first section of this report examines the mechanics of TCBs in more detail. The second section of this report analyzes the market for TCBs relative to municipal and corporate bonds.
Date: August 20, 2008
Creator: Maguire, Steven
Partner: UNT Libraries Government Documents Department

Tax Credit Bonds: Overview and Analysis

Description: Almost all state and local governments sell bonds to finance public projects and certain qualified private activities. Most of the bonds issued are tax-exempt bonds because the interest payments are not included in the bondholder's (purchaser's) federal taxable income. In contrast, Tax Credit Bonds (TCBs) are a type of bond that offers the holder a federal tax credit instead of interest. This report explains the tax credit mechanism and describes the market for the bonds.
Date: July 29, 2010
Creator: Maguire, Steven
Partner: UNT Libraries Government Documents Department

Tax Credit Bonds: Overview and Analysis

Description: Tax Credit Bonds (TCBs) are a type of bond that offers the holder a federal tax credit instead of interest. This report explains the tax credit mechanism and describes the market for the bonds. It also discusses related pieces of legislation and what the most common uses of the proceeds from TCBs are.
Date: April 16, 2009
Creator: Maguire, Steven
Partner: UNT Libraries Government Documents Department

The National Debt: Who Bears Its Burden?

Description: This report discusses the burden of a national debt and who bears that burden, which is a matter of Congressional concern since the gross national debt of the United States stands at some $5.5 trillion dollars.
Date: April 7, 2000
Creator: Makinen, Gail E.
Partner: UNT Libraries Government Documents Department

Public-Private Partnerships in Highway and Transit Infrastructure Provision

Description: This report begins with a brief discussion of the surface transportation system and its financing needs as background to the debate on public-private partnerships (PPPs). That is followed by sections describing the different types of PPPs, with details of a few prominent examples, and the development of federal legislation with respect to PPPs. The report then discusses the main issues of contention with the construction and longterm leasing of highways by the private sector, particularly as they relate to the funding, planning, and operation of the surface transportation system, before providing some policy options Congress may wish to consider.
Date: July 9, 2008
Creator: Mallett, William J.
Partner: UNT Libraries Government Documents Department

Haiti Earthquake: Crisis and Response

Description: The largest earthquake ever recorded in Haiti devastated parts of the country, including the capital, on January 12, 2010. This report discusses the disaster and various responses, ranging from the Haitian government's initial response to foreign humanitarian and financial aid.
Date: February 19, 2010
Creator: Margesson, Rhoda & Taft-Morales, Maureen
Partner: UNT Libraries Government Documents Department

Haiti Earthquake: Crisis and Response

Description: The largest earthquake ever recorded in Haiti devastated parts of the country, including the capital, on January 12, 2010. This report discusses the disaster and various responses, ranging from the Haitian government's initial response to foreign humanitarian and financial aid.
Date: May 6, 2010
Creator: Margesson, Rhoda & Taft-Morales, Maureen
Partner: UNT Libraries Government Documents Department

Haiti Earthquake: Crisis and Response

Description: The largest earthquake ever recorded in Haiti devastated parts of the country, including the capital, on January 12, 2010. This report discusses the disaster and various responses, ranging from the Haitian government's initial response to foreign humanitarian and financial aid.
Date: March 8, 2010
Creator: Margesson, Rhoda & Taft-Morales, Maureen
Partner: UNT Libraries Government Documents Department

Haiti Earthquake: Crisis and Response

Description: The largest earthquake ever recorded in Haiti devastated parts of the country, including the capital, on January 12, 2010. This report discusses the disaster and various responses, ranging from the Haitian government's initial response to foreign humanitarian and financial aid.
Date: February 2, 2010
Creator: Margesson, Rhoda & Taft-Morales, Maureen
Partner: UNT Libraries Government Documents Department

Haiti Earthquake: Crisis and Response

Description: This report discusses the Haiti earthquake disaster and various responses, ranging from the Haitian government's initial response to foreign humanitarian and financial aid.
Date: January 15, 2010
Creator: Margesson, Rhoda & Taft-Morales, Maureen
Partner: UNT Libraries Government Documents Department

U.S. Taxation of Overseas Investment and Income: Background and Issues

Description: This report analyzes how the current U.S. tax system applies to foreign investment undertaken by U.S. firms abroad, and how that application was changed by recent legislation. It also assesses the impact of the tax system and legislation, and concludes by discussing a variety of issues in international taxation that Congress may face in 2008 and beyond. It begins with a brief examination of the data on international investment.
Date: May 21, 2008
Creator: Marples, Donald J.
Partner: UNT Libraries Government Documents Department

Corporate Expatriation, Inversions, and Mergers: Tax Issues

Description: This report discusses relevant portions of the U.S. corporate income tax system and how inversions have commonly been structured. It also looks at how Congress and Department of the Treasury have reduced the benefits of inversions, including The American Jobs Creation Act, as well as post-2004 inversions and treasury regulations, and policy options.
Date: May 27, 2014
Creator: Marples, Donald J. & Gravelle, Jane G.
Partner: UNT Libraries Government Documents Department