Regulatory Roundup - April 13-19
AICPA
Press Release
AICPA Names Four new Accounting Doctoral Scholars
Four practicing CPAs have been selected as recipients of the AICPA's Accounting Doctoral Scholars program scholarships.
April 13, 2021
CBO
Cost Estimate
H.R. 51, Washington, D.C. Admission Act
April 16, 2021
As ordered reported by the House Committee on Oversight and Reform on April 14, 2021
Report
Budgeting for Federal Investment
April 15, 2021
This report examines approaches to budgeting that would distinguish expenditures for investment in physical capital, education, and research and development from other expenditures.
Working Paper
Discrete Choice Models for Estimating Labor Supply: Working Paper 2021-04
April 15, 2021
This paper evaluates discrete choice models as tools for analyzing the effects of tax and transfer policies on labor supply.
Cost Estimate
H.R. 1392, Protection of Saudi Dissidents Act of 2021
April 15, 2021
As ordered reported by the House Committee on Foreign Affairs on March 25, 2021
Cost Estimate
H.R. 1573, Access to Counsel Act of 2021
April 15, 2021
As ordered reported by the House Committee on the Judiciary on
April 14, 2021
Cost Estimate
H.R. 2016, Federal Disaster Assistance Coordination Act
April 15, 2021
As ordered reported by the House Committee on Transportation and Infrastructure on March 24, 2021
Cost Estimate
H.R. 610, San Francisco Bay Restoration Act
April 15, 2021
As ordered reported by the House Committee on Transportation and Infrastructure on March 24, 2021
Cost Estimate
S. 335, Tropical Forest and Coral Reef Conservation Reauthorization Act of 2021
April 15, 2021
As reported by the Senate Committee on Foreign Relations on March 24, 2021
Cost Estimate
S. 421, Western Tribal Water Infrastructure Act of 2021
April 15, 2021
As ordered reported by the Senate Committee on Indian Affairs on
March 24, 2021
Cost Estimate
April 15, 2021
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on March 17, 2021
Blog Post
A Statement to the Congress on the Long-Term Solvency of the Highway Trust Fund
April 14, 2021
The opening statement of Joseph Kile, CBO’s Director of Microeconomic Analysis, on the long-term solvency of the Highway Trust Fund before the Senate Committee on Environment and Public Works.
Report
Testimony on Addressing the Long-Term Solvency of the Highway Trust Fund
April 14, 2021
Joseph Kile, CBO’s Director of Microeconomic Analysis, testifies before the Committee on Environment and Public Works, United States Senate.
Cost Estimate
April 13, 2021
As ordered reported by the Senate Committee on Environment and Public Works on March 24, 2021
Cost Estimate
CBO’s Estimate of the Statutory Pay-As-You-Go Effects of H.R. 1868, an Act to Prevent Across-the-Board Direct Spending Cuts, and for Other Purposes
As Amended and Passed by the Senate on March 25, 2021
GAO
Offshore Oil and Gas
Updated Regulations Needed to Improve Pipeline Oversight and Decommissioning
GAO-21-293
Published: Mar 19, 2021.
Publicly Released: Apr 19, 2021.
What GAO Found The Department of the Interior's (Interior) Bureau of Safety and Environmental Enforcement (BSEE) does not have a robust oversight process for ensuring the integrity of approximately 8,600 miles of active offshore oil and gas pipelines located on the seafloor of the Gulf of Mexico.
National Security
DOD and State Have Processes for Formal and Informal Challenges to the Classification of Information
GAO-21-294
Published: Apr 16, 2021.
Publicly Released: Apr 16, 2021.
What GAO Found The Department of Defense (DOD) and the Department of State (State) have similar processes for formal challenges to the classification of information
Financial Audit
Bureau of the Fiscal Service's FY 2020 Schedules of the General Fund
GAO-21-362
Published: Apr 15, 2021.
Publicly Released: Apr 15, 2021.
What GAO Found Deficiencies in internal control over financial reporting and other limitations on the scope of GAO's work resulted in conditions that prevented GAO from expressing an opinion on the Schedules of the General Fund as of and for the fiscal year ended September 30, 2020.
Released on Apr. 14, 2021
Government Auditing Standards
2018 Revision Technical Update April 2021 (Supersedes GAO-18-568G)
GAO-21-368G
Published: Apr 14, 2021.
Publicly Released: Apr 14, 2021.
The Yellow Book provides standards and guidance for auditors and audit organizations, outlining the requirements for audit reports, professional qualifications for auditors, and audit organization quality control.
Published: Apr 14, 2021.
Publicly Released: Apr 14, 2021.
This is the Arabic language highlights associated with GAO-21-332, which issued on Monday, March 29. لماذا أجرى مكتب مساءلة الحكومة ھذه الدراسة قدمت الحكومة الأمريكية منذ عام 1993 أكثر من 6.
Sécurité Sanitaire Mondiale
Financements, activités et évaluations de l'USAID et des CDC relatifs aux capacités des pays à faire face aux menaces des maladies infectieuses avant l'apparition du COVID-19
GAO-21-484
Published: Apr 14, 2021.
Publicly Released: Apr 14, 2021.
This is the French language highlights associated with GAO-21-359.
COVID-19
Efforts to Increase Vaccine Availability and Perspectives on Initial Implementation
GAO-21-443
Published: Apr 14, 2021.
Publicly Released: Apr 14, 2021.
What GAO Found The federal government has taken several actions to increase the availability of COVID-19 vaccine doses and indicated it expects to have enough doses available for all adults in the United States by the end of May. As of April 1, 2021, the government had purchased 1.
Global Health Security
USAID and CDC Funding, Activities, and Assessments of Countries' Capacities to Address Infectious Disease Threats before COVID-19 Onset
GAO-21-359
Published: Apr 14, 2021.
Publicly Released: Apr 14, 2021.
Pour la version française de cette page, voir GAO-21-484. What GAO Found As of March 31, 2020, the U.S. Agency for International Development (USAID) and the Centers for Disease Control and Prevention (CDC) had obligated a combined total of more than $1.
Graduate Medical Education
Programs and Residents Increased during Transition to Single Accreditor; Distribution Largely Unchanged
GAO-21-329
Published: Apr 13, 2021.
Publicly Released: Apr 13, 2021.
What GAO Found The number of programs that provide graduate medical education (GME) for physicians—commonly known as residency programs—and the number of residents in those programs increased during the transition to a single accreditor for GME programs.
Defense Logistics
Army Should Ensure New System Operates in All Situations and Soldiers Complete Training
GAO-21-313
Published: Apr 12, 2021.Publicly Released: Apr 12, 2021.
What GAO Found The Global Combat Support System–Army (GCSS–Army)—a web-based information and logistics system—has improved the Army's ability to meet logistics needs during military operations through improved visibility, accountability, and reporting of its assets, such as replacement parts...
Border Security
Assessment of the Department of Homeland Security's Border Security Improvement Plan
GAO-21-303R
Published: Apr 12, 2021.
Publicly Released: Apr 12, 2021.
What GAO Found The Department of Homeland Security's (DHS) Fiscal Year 2019-2020 Border Security Improvement Plan did not include all required elements, thus providing incomplete information to Congress, and was not delivered within the statutory time frame.
Synthetic Opioids
Considerations for the Class-Wide Scheduling of Fentanyl-Related Substances
GAO-21-499
Published: Apr 12, 2021.
Publicly Released: Apr 12, 2021.
What GAO Found In 2018, the Drug Enforcement Administration (DEA) temporarily classified fentanyl-related substances as Schedule I under the Controlled Substances Act, based on their chemical structure, designating them illicit drugs with high abuse potential and no medical use.
GASB
GASB Proposes to Rename the Comprehensive Annual Financial Report [04/13/21]
Media Advisory
Exposure Draft
Video
IASB
16 April 2021
April 2021 International Accounting Standards Board meeting papers available
March 2021 IFRS for SMEs Update
16 April 2021
IASB to publish Exposure Draft Lack of Exchangeability
15 April 2021
Recording of virtual workshop on Post-implementation Review of group accounting standards
https://www.ifrs.org/news-and-events/news/2021/04/recording-of-virtual-workshop-on-pir-10-11-12/
15 April 2021
Join the IFRS Advisory Council—Advisory Council Chair
https://www.ifrs.org/news-and-events/news/2021/04/join-the-ifrs-advisory-council-ac-chair
15 April 2021
Join the IFRS Advisory Council—Advisory Council members
https://www.ifrs.org/news-and-events/news/2021/04/join-the-ifrs-advisory-council-members/
15 April 2021
Join the International Accounting Standards Board
https://www.ifrs.org/news-and-events/news/2021/04/join-the-international-accounting-standards-board/
14 April 2021
Bertrand Perrin to join International Accounting Standards Board
https://www.ifrs.org/news-and-events/news/2021/04/bertrand-perrin-to-join-international-accounting-standards-board/
IRS
IR-2021-87, April 15, 2021 — The Internal Revenue Service today continued an ongoing effort to help those experiencing homelessness during the pandemic by reminding people who don’t have a permanent address or a bank account that they may still qualify for Economic Impact Payments and other tax benefits.
IR-2021-86, April 14, 2021 — Today, the Internal Revenue Service, the U.S. Department of the Treasury and the Bureau of the Fiscal Service announced they are disbursing nearly 2 million payments in the fifth batch of Economic Impact Payments from the American Rescue Plan.
IRS Free File can help people who have no filing requirement find overlooked tax credits and get a refund
NYS
New York State Agriculture Commissioner Reminds Farmers of Tax Credit For Charitable Food Donations Ahead of Tax Filing Deadline of May 17, 2021
April 16, 2021
Join Over 150,000 New Yorkers Who Have Already Filed Their Tax Returns for Free
April 14, 2021
SEC
SEC Charges Binary Options Trading Platform and Two Top Executives with Fraud
2021-66, April 19, 2021 — On Friday, April 16, 2021, the Securities and Exchange Commission charged Israeli-based Spot Tech House Ltd., formerly known as Spot Option Ltd., and two of its former top executives, Malhaz Pinhas Patarkazishvili (also known as Pini Peter) and Ran Amiran, with deceiving U.S. investors out of more than $100 million through fraudulent and unregistered online sales of risky securities known as binary options.
Gary Gensler Sworn in as Member of the SEC
2021-65, April 17, 2021 — Gary Gensler was sworn into office today as a Member of the Securities and Exchange Commission by U.S. Senator Ben Cardin. He was nominated to Chair the SEC by President Joseph R. Biden on February 3, 2021 and confirmed by the U.S. Senate on April 14, 2021.
SEC Reopens Comment Period for Universal Proxy
2021-64, April 16, 2021 — The Securities and Exchange Commission today voted to reopen the comment period on the proposed rules for the use of universal proxy cards in all non-exempt solicitations for contested director elections
SEC Awards Over $50 Million to Joint Whistleblowers
2021-62 April 15, 2021 — The Securities and Exchange Commission today announced an award of over $50 million to joint whistleblowers whose information alerted SEC staff to violations that involved highly complex transactions and would have been difficult to detect without their information.
SEC Charges Felon and Six Others in Oil-and-Gas Offering Fraud
2021-61, April 14, 2021 — The Securities and Exchange Commission today charged seven individuals, including criminal recidivist Richard Dale Sterritt, Jr., with defrauding investors through a multimillion dollar oil-and-gas offering fraud and related market manipulation scheme.
TIGTA
April 15, 2021
Actions Were Taken to Improve the Identification of Prisoner Tax Returns