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The Trump administration’s plan to trim the IRS workforce has resulted in almost one-third of its tax auditors leaving the agency through March, according to a report from the U.S. Treasury Department’s watchdog.Elon Musk’s Department of Government Efficiency, or DOGE, has sought to trim the federal workforce through a combination of layoffs and so-called deferred resignation. Musk, the billionaire CEO of Tesla, said on the electric vehicle maker’s April 22 earnings call that DOGE’s efforts “in addressing waste and fraud” will “get the country back on track.”The IRS has been a focus of DOGE’s cost-cutting efforts, with plans to trim as much…

People wait in line for a delayed flight at Newark International Airport on May 5, 2025 in Newark, New Jersey. Spencer Platt | Getty ImagesAir traffic controllers lost contact with aircraft heading to and from Newark Liberty International Airport last week, their union said, detailing an equipment failure that led to massive flight delays and raised more concerns about aging U.S. aviation infrastructure and staffing shortages.The controllers who guide flights in and out of the New Jersey airport on April 28 “temporarily lost radar and communications with the aircraft under their control, unable to see, hear, or talk to them,”…

U.S. President Donald Trump speaks before signing executive orders in the Oval Office at the White House, in Washington, D.C., U.S., May 5, 2025.Leah Millis | ReutersPresident Donald Trump on Monday signed an executive order to incentivize prescription drug manufacturing in the U.S., streamlining the path for pharmaceutical companies to build new production sites stateside as potential tariffs on imported medicines loom.The order directs the Food and Drug Administration to reduce the amount of time it takes to approve manufacturing plants in the U.S. by eliminating unnecessary requirements, streamlining reviews and working with domestic drugmakers to “provide early support before…

The Public Company Accounting Oversight Board’s Investor Advisory Group is asking for examples of critical audit matters or key audit matters that can be used for analysis.The PCAOB’s Office of the Investor Advocate released an advisory last week asking the public to submit examples to the Investor Advisory Group by June 30. The nominations can come from public company issuers (both management and boards), auditors, financial analysts and investors. They’re looking for the most decision useful CAM or KAM contained in public company audit reports included in the 2024 Form 10-Ks and Form 20-Fs. The PCAOB began requiring the disclosure of…