Regulatory Roundup - Feb. 1-7
AICPA
New Pathway to CGMA — Your Avenue to Attract Quality Candidates
The AICPA® Registered Apprenticeship for Finance Business Partners leading to the CGMA helps employers address recruitment, retention and upskilling concerns, utilizing the Finance Leadership Program, on-the-job training and mentorship.
Feb 02, 2022・
New Pathway to CGMA — Your Avenue to Attract Quality CandidatesNew Pathway to CGMA — Your Avenue to Attract Quality Candidates
Current PFP News
Catch the latest trends, resources and news happening with personal financial planning in the latest issue of AICPA’s PFP News.
Feb 02, 2022
Current PFP NewsCurrent PFP News
LGBTQ Initiatives Committee works for change
The LGBTQ+ Initiatives Committee has four pillars they plan to implement in 2022 as part of their efforts to rectify historical and current biases.
Feb 01, 2022・
CBO
Cost Estimate
Estimated Budgetary Effects of Rules Committee Print 117-32 for H.R. 3076, the Postal Service Reform Act of 2022
February 4, 2022
As Posted on February 3, 2022, and as Amended by Amendment #1, the Manager's Amendment, as Posted on February 4, 2022
Cost Estimate
S. 497, American Fisheries Advisory Committee Act
February 4, 2022
As reported by the Senate Committee on Commerce, Science, and Transportation on December 17, 2021
Cost Estimate
H.R. 5001, Upper Colorado and San Juan River Basins Recovery Act
February 3, 2022
As ordered reported by the House Committee on Natural Resources on November 17, 2021
Cost Estimate
S. 180, Buffalo Tract Protection Act
February 3, 2022
As ordered reported by the Senate Committee on Energy and Natural Resources on November 18, 2021
Cost Estimate
S. 2274, Federal Cybersecurity Workforce Expansion Act
February 3, 2022
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on November 3, 2021
Cost Estimate
S. 2720, Veterans’ Prostate Cancer Treatment and Research Act
February 3, 2022
As ordered reported by the Senate Committee on Veterans’ Affairs on December 15, 2021
Presentation
CBO’s Model of New Drug Development
February 2, 2022
Presentation by Chris Adams, an analyst in CBO’s Health Analysis Division, to the Health Economics Seminar Cosponsored by Boston University, Harvard University, and the Massachusetts Institute of Technology.
Presentation
How CBO Evaluates Health Care Proposals
February 2, 2022
Presentation by CBO’s Director, Phillip L. Swagel, and CBO’s Director of Health Analysis, Carrie H. Colla, to the Healthy Future Task Force.
Cost Estimate
S. 1275, Family Violence Prevention and Services Improvement Act of 2021
February 2, 2022
As reported by the Senate Committee on Health, Education, Labor, and Pensions on July 27, 2021
Cost Estimate
S. 1607, Student Veterans Transparency and Protection Act of 2021
February 2, 2022
As ordered reported by the Senate Committee on Veterans’ Affairs on December 15, 2021
Cost Estimate
H.R. 2681, Integrity Committee Transparency Act of 2021
February 1, 2022
As ordered reported by the House Committee on Oversight and Reform on May 13, 2021
Cost Estimate
S. 2794, Supporting Families of the Fallen Act
February 1, 2022
As ordered reported by the Senate Committee on Veterans’ Affairs on December 15, 2021
FAF
Financial Accounting Foundation Board of Trustees [02/01/22]
Meeting Notice
GAO
Coast Guard Health Care
Improvements Needed for Determining Staffing Needs and Monitoring Access to Care
GAO-22-105152
Published: Feb 04, 2022.
Publicly Released: Feb 04, 2022.
The Coast Guard provides health care to its personnel through outpatient clinics. It had 1,022 health care staff in 2021. Is that enough? We found that the Coast Guard can't be sure. It doesn't have standards to outline the number and types of health care staff it needs.
Forced Labor
Actions Needed to Better Prevent the Availability of At-Risk Goods in DOD's Commissaries and Exchanges
GAO-22-105056
Published: Feb 03, 2022.
Publicly Released: Feb 03, 2022.
Globally, millions of people work under threat or coercion. DOD has policies to prevent the sale of goods produced by forced labor at the nearly 3,000 military commissaries and exchanges it operates worldwide. But the commissaries and exchanges implement DOD's policies differently.
Defense Health Care
DOD Expanded Telehealth for Mental Health Care during the COVID-19 Pandemic
GAO-22-105149
Published: Feb 03, 2022.
Publicly Released: Feb 03, 2022.
We reviewed mental health care for military servicemembers during the COVID-19 pandemic. Telehealth visits made up about 15% of outpatient mental health visits before the pandemic (from Jan. 2019 through Feb. 2020). This type of visit increased 275% from Feb.
USDA Market Facilitation Program
Oversight of Future Supplemental Assistance to Farmers Could Be Improved
GAO-22-104259
Published: Jan 04, 2022.
Publicly Released: Feb 03, 2022.
USDA's Farm Service Agency (FSA) administered the Market Facilitation Program, which distributed payments to farms for losses caused by international trade disruptions in 2018 and 2019. FSA distributed $23 billion in such payments for those years.
Advanced Research Projects Agency-Energy
Agency Has Practices for Avoiding Duplication and Involving Stakeholders in the Development of Research Programs
GAO-22-104775
Published: Feb 03, 2022.
Publicly Released: Feb 03, 2022.
Congress established the Advanced Research Projects Agency-Energy in 2007 to develop transformative energy technology that may be too high risk for private industry to undertake. We looked at how ARPA-E coordinates its research with other offices within the Department of Energy.
VA Vet Centers
Continued Attention to GAO Recommendations Could Help Meet Veteran and Servicemember Needs
GAO-22-105675
Published: Feb 03, 2022.
Publicly Released: Feb 03, 2022.
The Department of Veterans Affairs operates 300 Vet Centers in the U.S. that provide counseling services to eligible veterans, servicemembers, and their families.
Missile Defense
Addressing Cost Estimating and Reporting Shortfalls Could Improve Insight into Full Costs of Programs and Flight Tests
GAO-22-104344
Published: Feb 02, 2022.
Publicly Released: Feb 02, 2022.
Since 2002, the Missile Defense Agency has received over $174 billion to develop systems that detect, track, and defeat enemy missiles. However, we found that the agency's cost estimates for these systems are incomplete.
Bureau of Prisons
Enhanced Data Capabilities, Analysis, Sharing, and Risk Assessments Needed for Disaster Preparedness
GAO-22-104289
Published: Feb 02, 2022.
Publicly Released: Feb 02, 2022.
The Bureau of Prisons tracks data on its facility maintenance and repair projects—including those stemming from disasters. But, the Bureau hasn't defined "disasters" for the purpose of tracking its maintenance and repair projects—making it harder to plan for disaster risks.
Veteran Employment
Preliminary Observations on VA's Technology Education Pilot Program
GAO-22-105720
Published: Feb 02, 2022.
Publicly Released: Feb 02, 2022.
The Department of Veterans Affairs is piloting a program that supports veterans who enroll in certain technology training programs. In this statement for the record, we share our preliminary observations on the program.
Native American Issues
Federal Agency Efforts and Challenges Repatriating Cultural Items
GAO-22-105685
Published: Feb 02, 2022.
Publicly Released: Feb 02, 2022.
We testified about efforts to implement the Native American Graves Protection and Repatriation Act. The 1990 act governs cultural items, such as human remains and funerary objects, held by federal agencies and certain museums.
VA Health Care
Clinical Contact Center Modernization Could Benefit from a Shared Schedule and Additional Guidance to Networks
GAO-22-104620
Published: Feb 01, 2022.
Publicly Released: Feb 01, 2022.
The Veterans Health Administration's (VHA) clinical contact centers help veterans with services like appointment scheduling, clinical triage, virtual care visits, and pharmacy services.
Electronic Health Records
VA Needs to Address Data Management Challenges for New System
GAO-22-103718
Published: Feb 01, 2022.
Publicly Released: Feb 01, 2022.
The Department of Veterans Affairs relies on electronic health records for patient care, risk management for its patient population and health research.
Biomedical Research
Observations on DOD's Management of Congressionally Directed Medical Research Programs
GAO-22-105107
Published: Jan 31, 2022.
Publicly Released: Jan 31, 2022.
DOD awards funds to biomedical researchers for projects on topics identified by Congress. The projects contribute to the development of new drugs, vaccines, and medical devices. DOD uses a cyclical, routine process to prioritize investments from these funds.
Memorandum
Professional Standards Update No. 83
Published: Jan 28, 2022.
Publicly Released: Jan 31, 2022.
To alert the audit community to changes in professional standards, we periodically issue Professional Standards Updates (PSU). These updates highlight the effective dates and issuance of recent standards and guidance related to engagements conducted in accordance with Government Auditing Standards.
Defense Infrastructure
DOD Should Better Manage Risks Posed by Deferred Facility Maintenance
GAO-22-104481
Published: Jan 31, 2022.
Publicly Released: Jan 31, 2022.
DOD has over 550,000 buildings and other facilities worldwide, with an estimated value of about $1.3 trillion. These facilities need ongoing maintenance to keep them in good working order—known as "facility sustainment.
IASB
January 2022 IFRS Advisory Council meeting summary available
7 February 2022
MEETING
Join the Staff—Accountant
4 February 2022
CAREERS
Watch two new webcasts explaining the IASB’s Exposure Draft Supplier Finance Arrangements
4 February 2022
WEBCAST
An interview with new ISSB Chair Emmanuel Faber
3 February 2022
FEATURE
December 2021 Report of the Emerging Economies Group now available
3 February 2022
MEETING
January 2022 monthly news summary
1 February 2022
NEWS SUMMARY
IRS
IRS Taxpayer Assistance Centers open on special Saturdays for face-to-face help
IR-2022-26, February 4, 2022 — As part of a larger effort to help people during this year’s filing season, the Internal Revenue Service today announced special Saturday hours at many Taxpayer Assistance Centers (TACs) across the country.
IRS warning: Scammers work year-round; stay vigilant
IR-2022-25, February 3, 2022 — As the new year begins, the Internal Revenue Service reminds taxpayers to protect their personal and financial information throughout the year and watch out for IRS impersonation scams, along with other schemes, that try to trick people out of their hard-earned money.
IRS provides revised answer for 2020 Recovery Rebate Credit on tracing payments
IR-2022-24, February 2, 2022 — The Internal Revenue Service today updated its frequently asked questions (FAQs) on 2020 Recovery Rebate Credit (FS-2022-08).
Tax Time Guide: Important considerations before filing a 2021 tax return
IR-2022-23, February 1, 2022 — Now that the 2022 tax season is open, the Internal Revenue Service reminds taxpayers to make sure they’ve got what they need before they file and to consider free resources available to help them get organized.
IRS revises FAQs for 2021 Child Tax Credit and Advance Child Tax Credit Payments
IR-2022-22, February 1, 2022 — The Internal Revenue Service today updated its frequently asked questions (FAQs) for the 2021 Child Tax Credit and Advance Child Tax Credit Payments.
IRS issues 2021 Filing Season frequently asked questions, information to help taxpayers preparing their 2021 returns
IR-2022-21, January 31, 2022 — These frequently asked questions (FAQs) are released to the public in Fact Sheet 2022-06, January 31, 2022.
NYS
Governor Hochul Urges New Yorkers to E-file in Order to Claim All Available Tax Benefits Superintendent Adrienne A. Harris Works Toward a Fairer Financial Services System and Equitable New York Economy Governor Hochul Announces Actions to Encourage COVID-19 Vaccinations for Children and Families Superintendent Harris Announces the Conclusion of the First Investigation by DFS' Office of Pharmacy BenefitsSEC
SEC Files Fraud Charges Alleging a Multimillion Dollar Scheme that Targeted Retirement Accounts
2022-17, Feb. 1, 2022 — The Securities and Exchange Commission today announced charges against Safeguard Metals LLC, and its owner, Jeffrey Santulan, for engaging in a multimillion dollar fraudulent scheme involving hundreds of investors who were at or near retirement age.
Lori H. Price Named Acting Director of the Office of Credit Ratings; Ahmed Abonamah to Leave SEC
2022-16, Feb. 1, 2022 — The Securities and Exchange Commission today announced that Lori H. Price will serve as Acting Director of the Office of Credit Ratings (OCR). Ms. Price replaces Ahmed A. Abonamah, who is leaving the agency at the beginning of February to serve as Chief Financial Officer for the City of Cleveland.
SEC Publishes Annual Staff Report on Nationally Recognized Statistical Rating Organizations
2022-15., Jan. 31, 2022 — The Securities and Exchange Commission today issued its annual Staff Report on Nationally Recognized Statistical Rating Organizations (NRSROs), providing a summary of the SEC staff’s examinations of NRSROs and discussing the state of competition, transparency, and conflicts of interest among NRSROs.
TIGTA
More Interim Steps Could Be Taken to Mitigate Information Technology Supply Chain Risks