AICPA

AICPA aims to build diverse talent pool of CPAs through Leadership Workshop
Apr 20, 2022

Another Tax Filing Deadline Down, But Problems with IRS Persist
Apr 19, 2022・

AICPA Announces Endorsement of Supply Chain Disruptions Relief Act
Apr 18, 2022

CBO

Cost Estimate
Legislation considered under suspension of the Rules of the House of Representatives during the week of April 25, 2022
April 25, 2022
The Majority Leader of the House of Representatives announces bills that will be considered under suspension of the rules in that chamber. CBO estimates the effects of those bills on direct spending and revenues.

Cost Estimate
H.R. 6899, Russia and Belarus SDR Exchange Prohibition Act of 2022
April 22, 2022
As ordered reported by the House Committee on Financial Services on March 17, 2022

Cost Estimate
H.R. 6376, Student Veteran Work Study Modernization Act
April 21, 2022
As ordered reported by the House Committee on Veterans’ Affairs on April 6, 2022

Cost Estimate
H.R. 6441, Women’s Business Centers Improvement Act of 2022
April 21, 2022
As reported by the House Committee on Small Business on March 7, 2022

Cost Estimate
H.R. 6445, Small Business Development Centers Improvement Act of 2022
April 21, 2022
As reported by the House Committee on Small Business on March 8, 2022

Cost Estimate
H.R. 6651, Alaska Salmon Research Task Force Act
April 21, 2022
As ordered reported by the House Committee on Natural Resources on April 6, 2022

Cost Estimate
H.R. 7372, Protecting Semiconductor Supply Chain Materials from Authoritarians Act
April 21, 2022
As ordered reported by the House Committee on Foreign Affairs on April 5, 2022

Cost Estimate
H.R. 7375, To direct the Secretary of VA to update the payment system of the Department of VA to allow for EFT of educational assistance, administered by the Secretary, to a foreign institution of higher education
April 21, 2022
As ordered reported by the House Committee on Veterans’ Affairs on April 6, 2022

Blog Post
Some Presentations
April 21, 2022
CBO’s Director, Phillip Swagel, discusses his recent and upcoming presentations.

Cost Estimate
H.R. 4877, One Stop Shop for Small Business Compliance Act of 2021
April 20, 2022
As reported by the House Committee on Small Business on March 7, 2022

Cost Estimate
H.R. 5973, Great Lakes Fish and Wildlife Restoration Reauthorization Act of 2021
April 20, 2022
As ordered reported by the House Committee on Natural Resources on February 16, 2022

Cost Estimate
H.R. 6023, Multinational Species Conservation Funds Semipostal Stamp Reauthorization Act of 2021
April 20, 2022
As ordered reported by the House Committee on Natural Resources on February 16, 2022

Cost Estimate
H.R. 6454, Small Business Advocacy Improvements Act of 2022
April 20, 2022
As reported by the House Committee on Small Business on March 7, 2022

Cost Estimate
H.R. 6930, Asset Seizure for Ukraine Reconstruction Act
April 20, 2022
As ordered reported by the House Committee on Foreign Affairs on April 5, 2022

Cost Estimate
H.R. 7314, Assessing Xi’s Interference and Subversion Act
April 20, 2022
As ordered reported by the House Committee on Foreign Affairs on April 5, 2022

Cost Estimate
H.R. 7340, a bill to provide for congressional oversight of certain sanctions imposed with respect to the Russian Federation
April 20, 2022
As ordered reported by the House Committee on Foreign Affairs on April 5, 2022

Cost Estimate
H.R. 847, Promoting Digital Privacy Technologies Act
April 20, 2022
As ordered reported by the House Committee on Science, Space, and Technology on January 19, 2022

Cost Estimate
S. 2699, American Cybersecurity Literacy Act of 2021
April 20, 2022
As reported by the Senate Committee on Commerce, Science, and Transportation on December 17, 2021

Cost Estimate
S. 3388, Veterans Benefits Improvement Act of 2021
April 20, 2022
As ordered reported by the Senate Committee on Veterans’ Affairs on December 15, 2021

Cost Estimate
S. 3510, Disaster Resiliency Planning Act
April 20, 2022
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on February 2, 2022

Working Paper
A Model for Pricing Federal Housing Finance Obligations: Working Paper 2022-06
April 19, 2022This paper presents a risk-neutral approach that CBO uses to inform its estimates of the fair-value cost of mortgage obligations.

Cost Estimate
H.R. 1930, Federal Advisory Committee Transparency Act
April 19, 2022
As ordered reported by the House Committee on Oversight and Government Reform on May 13, 2021

Cost Estimate
H.R. 2499, Federal Firefighters Fairness Act of 2022
April 19, 2022
As ordered reported by the House Committee on Education and Labor on March 16, 2022

Cost Estimate
H.R. 3525, Commission To Study the Potential Creation of a National Museum of Asian Pacific American History and Culture Act
April 19, 2022
As ordered reported by the House Committee on Natural Resources on February 16, 2022

Cost Estimate
H.R. 4055, American Cybersecurity Literacy Act
April 19, 2022
As passed by the House of Representatives on December 1, 2021

Cost Estimate
H.R. 6201, National Liberty Memorial Preservation Act
April 19, 2022
As ordered reported by the House Committee on Natural Resources on February 16, 2022

Cost Estimate
H.R. 7311, Countering Malign Russian Activities in Africa Act
April 19, 2022
As ordered reported by the House Committee on Foreign Affairs on April 5, 2022

Cost Estimate
H.R. 923, Georgia Support Act
April 19, 2022
As ordered reported by the House Committee on Foreign Affairs on April 5, 2022

Cost Estimate
S. 1941, MAPS Act of 2021
April 19, 2022
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on November 3, 2021

Cost Estimate
S. 2761, Every Veteran Counts Act of 2021
April 19, 2022
As ordered reported by the Senate Committee on Veterans’ Affairs on December 15, 2021

Working Paper
A Model for Pricing Federal Housing Finance Obligations: Working Paper 2022-06
April 19, 2022
This paper presents a risk-neutral approach that CBO uses to inform its estimates of the fair-value cost of mortgage obligations.

Cost Estimate
H.R. 1930, Federal Advisory Committee Transparency Act
April 19, 2022
As ordered reported by the House Committee on Oversight and Government Reform on May 13, 2021

Cost Estimate
H.R. 2499, Federal Firefighters Fairness Act of 2022
April 19, 2022
As ordered reported by the House Committee on Education and Labor on March 16, 2022

Cost Estimate
H.R. 3525, Commission To Study the Potential Creation of a National Museum of Asian Pacific American History and Culture Act
April 19, 2022
As ordered reported by the House Committee on Natural Resources on February 16, 2022

Cost Estimate
H.R. 4055, American Cybersecurity Literacy Act
April 19, 2022
As passed by the House of Representatives on December 1, 2022

Cost Estimate
H.R. 6201, National Liberty Memorial Preservation Act
April 19, 2022
As ordered reported by the House Committee on Natural Resources on February 16, 2022

Cost Estimate
H.R. 7311, Countering Malign Russian Activities in Africa Act
April 19, 2022
As ordered reported by the House Committee on Foreign Affairs on April 5, 2022

Cost Estimate
H.R. 923, Georgia Support Act
April 19, 2022
As ordered reported by the House Committee on Foreign Affairs on April 5, 2022

Cost Estimate
S. 1941, MAPS Act of 2021
April 19, 2022
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on November 3, 2021

Cost Estimate
S. 2761, Every Veteran Counts Act of 2021
April 19, 2022
As ordered reported by the Senate Committee on Veterans’ Affairs on December 15, 2021

Cost Estimate
S. 3511, Satellite Cybersecurity Act
April 19, 2022
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on March 30, 2022

FASB

FASB Proposes Updates to Reference Rate Reform Guidance
April 20, 2022

GAO

F-35 Joint Strike Fighter
Cost Growth and Schedule Delays Continue
GAO-22-105128
Published: Apr 25, 2022.
Publicly Released: Apr 25, 2022.
What GAO Found The Department of Defense (DOD) has not yet authorized the F-35 program to begin full-rate production.

VA Financial Management System
Additional Actions Needed to Help Ensure Success of Future Deployments
GAO-22-105059
Published: Mar 24, 2022.
Publicly Released: Apr 25, 2022.
What GAO Found The Department of Veterans Affairs (VA) Financial Management Business Transformation (FMBT) program has begun deploying the Integrated Financial and Acquisition Management System (iFAMS) at the National Cemetery Administration (NCA) and the Veterans Benefits Administration (VBA).

Nutrition Assistance Programs
Federal Agencies Should Improve Oversight and Better Collaborate on Efforts to Support Veterans with Food Insecurity
GAO-22-104740
Published: Mar 24, 2022.
Publicly Released: Apr 25, 2022.
What GAO Found The Department of Veterans Affairs (VA) has taken several actions to identify veterans who may be experiencing food insecurity—which the United States Department of Agriculture (USDA) defines as the condition of limited or uncertain access to adequate food—and refer them for assistance,...

Rail and Air Labor Relations
National Mediation Board Made Progress on GAO Recommendations but Needs to Address Management Issues
GAO-22-105266
Published: Apr 25, 2022.
Publicly Released: Apr 25, 2022.
What GAO Found The National Mediation Board (NMB), which facilitates labor relations for railroads and airlines, has implemented seven of GAO's 10 remaining recommendations related to internal policies and processes (see figure).

Abusive Tax Schemes
IRS Could Improve Its Reviews of Offshore Insurance Audits and Investigations
GAO-22-104180
Published: Mar 23, 2022.
Publicly Released: Apr 22, 2022.
What GAO Found To encourage voluntary compliance with tax laws concerning offshore insurance arrangements, the Internal Revenue Service (IRS) uses feedback from internal stakeholders and the public to review and modify applicable guidance.

Evidence-Based Policy Making
USDA's Decision to Relocate Research Agencies to Kansas City Was Not Fully Consistent with an Evidence-Based Approach
GAO-22-104540
Published: Apr 19, 2022.
Publicly Released: Apr 21, 2022
What GAO Found .An economic analysis conducted by the U.S Department of Agriculture (USDA) with assistance from Ernst and Young was critical to informing USDA leadership about potential sites for relocating the National Institute of Food and Agriculture (NIFA) and the Economic Research Service (ERS)

Scientific Integrity
HHS Agencies Need to Develop Procedures and Train Staff on Reporting and Addressing Political Interference
GAO-22-104613
Published: Apr 20, 2022.
Publicly Released: Apr 20, 2022.
What GAO Found The four agencies GAO reviewed do not have procedures that define political interference in scientific decision-making or describe how it should be reported and addressed.

Southwest Border
CBP Should Improve Data Collection, Reporting, and Evaluation for the Missing Migrant Program
GAO-22-105053
Published: Apr 20, 2022.
Publicly Released: Apr 20, 2022.
What GAO Found The U.S. Border Patrol set up the Missing Migrant Program in 2017 to help rescue migrants in distress and reduce migrant deaths along the southwest border. Border Patrol issued nationwide procedures in September 2021, and has coordinated with external entities (e.g.

Surface Transportation
TSA Implementation of Security Training Requirement
GAO-22-105315
Published: Apr 20, 2022.
Publicly Released: Apr 20, 2022.
What GAO Found In March 2020, the Transportation Security Administration (TSA) issued its final rule implementing a new requirement that security-sensitive surface transportation employees receive security training.

Federal Student Aid
Education Needs to Take Steps to Ensure Eligible Loans Receive Income-Driven Repayment Forgiveness
GAO-22-103720
Published: Mar 21, 2022.
Publicly Released: Apr 20, 2022.
What GAO Found The Department of Education approved forgiveness for a total of 157 loans under Income-Driven Repayment (IDR) plans as of June 1, 2021, but has not taken the steps necessary to ensure that all eligible loans receive IDR forgiveness.

Countering Weapons of Mass Destruction
DHS Could Improve Its Acquisition of Key Technology and Coordination with Partners
GAO-22-104498
Published: Apr 19, 2022.
Publicly Released: Apr 19, 2022.
What GAO Found The Department of Homeland Security's (DHS) Countering Weapons of Mass Destruction Office (CWMD) continues to carry out functions of its predecessor offices. For example, CWMD continues to manage a program to acquire replacements for radiation portal monitors that U.S.

Native American Veterans
Improvements to VA Management Could Help Increase Mortgage Loan Program Participation
GAO-22-104627
Published: Apr 19, 2022.
Publicly Released: Apr 19, 2022.
What GAO Found The Department of Veterans Affairs (VA) has made relatively few loans under its Native American Direct Loan (NADL) program. This program provides loans to eligible Native American veterans to purchase, construct, or improve homes on certain types of land.

K-12 Education
An Estimated 1.1 Million Teachers Nationwide Had At Least One Student Who Never Showed Up for Class in the 2020-21 School Year [Reissued with Revisions on Apr. 19, 2022]
GAO-22-104581
Published: Mar 23, 2022.
Publicly Released: Mar 23, 2022.
What GAO Found Nearly half of K-12 public school teachers had at least one student who never showed up for class in the 2020-21 school year. The majority of these teachers said that, compared to a typical year, they had more students who never showed up for class.

Federal-Aid Highways
Information on State Use and Oversight of Engineering Consultants
GAO-22-104713
Published: Apr 19, 2022.
Publicly Released: Apr 19, 2022.
What GAO Found In a survey GAO administered, state departments of transportation (state DOT)—in all 50 states, Washington, D.C., and Puerto Rico—reported using engineering consultants to assist them on federal-aid highway construction projects.

IASB

April 2022 IFRIC Update available
Update
22 Apr 2022  

4 March 2022 Consultative Group for Rate Regulation meeting summary available
Meeting
20 Apr 2022

March 2022 Global Preparers Forum meeting summary available
Meeting
20 Apr 2022    

Q1 2022 IFRS Interpretations Committee podcast now available
Podcast
19 Apr 2022    

Join the staff—IASB Assistant Technical Staff
Careers 
19 Apr 2022   

IRS

IRS seeks nominations for the 2023 Internal Revenue Service Advisory Council
IR-2022-94, April 25, 2022 — The Internal Revenue Service today announced it’s accepting applications for the Internal Revenue Service Advisory Council for 2023. Applications will be accepted through June 3, 2022.

May 16 is filing deadline for many tax-exempt organizations
IR-2022-93, April 21, 2022 — The Internal Revenue Service today reminded tax-exempt organizations that many have a filing deadline of May 16, 2022.

IRS announces 2022 funding for Low Income Taxpayer Clinic grant recipients
IR-2022-92, April 20, 2022 — The IRS announced today that more than $12.1 million in matching grants were awarded to 131 organizations across the country for development, expansion or continuation of qualified Low Income Taxpayer Clinics (LITCs) for the 2022 grant year.

Taxpayers who owe and missed the April 18 filing deadline should file now to limit penalties and interest; not too late to claim the Child Tax Credit for 2021
IR-2022-91, April 19, 2022 — The IRS encourages taxpayers who missed Monday’s April 18 tax-filing deadline to file as soon as possible. While taxpayers due a refund receive no penalty for filing late, those who owe and missed the deadline without requesting an extension should file quickly to limit penalties and interest.

2022 IRS Nationwide Tax Forum begins July 19
IR-2022-90, April 19, 2022 — The Internal Revenue Service today announced the 2022 IRS Nationwide Tax Forum will be held virtually over five weeks starting July 19, with a series of live-streamed webinars every Tuesday, Wednesday and Thursday.

IRS reminds employers of penalty relief related to claims for the Employee Retention Credit
IR-2022-89, April 18, 2022 — The Department of the Treasury and the Internal Revenue Service have received requests from taxpayers and their advisors for relief from penalties arising when additional income tax is owed because the deduction for qualified wages is reduced by the amount of a retroactively claimed employee retention tax credit (ERTC), but the taxpayer is unable to pay the additional income tax because the ERTC refund payment has not yet been received.

NYS

Statement from DFS Superintendent Adrienne A. Harris on Earth Day 2022:
April 21, 2022

PCAOB

PCAOB Sanctions Two Registered Public Accounting Firms for Improper Use of Unregistered Firms
Apr. 19, 2022

Jackie Cottrell to Depart as Director of the PCAOB’s Office of External Affairs
Apr. 19, 2022

SEC

SEC Updates List of Firms Using Inaccurate Information to Solicit Investors                                                         
 2022-68, April 25, 2022  — 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 58 soliciting entities, 11 impersonators of genuine firms, and one bogus regulator.

SEC Issues $6 Million Award to Five Whistleblowers                   
2022-67, April 25, 2022 —The Securities and Exchange Commission today announced a total award of $6 million to two groups of whistleblowers who provided information and assistance in a single covered action.

Former Domino’s Pizza Accountant to Pay Nearly $2 Million Penalty for Insider Trading                                     
2022-66, April 21, 2022 — The Securities and Exchange Commission today announced a court-approved settlement requiring a Michigan-based former accountant at Domino’s Pizza Inc. to pay a penalty of nearly $2 million for insider trading in the company’s stock.

SEC Charges Stericycle with Bribery Schemes in Latin America                                                                             
2022-65, April 19, 2022  — The Securities and Exchange Commission today announced charges against Stericycle, Inc. for violations of the Foreign Corrupt Practices Act (FCPA) arising out of bribery schemes that took place in Argentina, Brazil, and Mexico. The company has agreed to pay more than $84 million to settle parallel civil and criminal charges related to these schemes, including nearly $28.2 million to settle the SEC’s charges

Atlanta-Based Pest Control Company, Former CFO Charged with Improper Earnings Management                     
2022-64, April 18, 2022  — The Securities and Exchange Commission today announced that Rollins Inc. agreed to pay $8 million to settle charges that it engaged in improper accounting practices in order to boost its publicly-reported quarterly earnings per share (EPS) to meet research analysts’ consensus estimates.

SEC Charges Senior Executive of Brazilian Company with Fraud 
2022-63, April 18, 2022 — The Securities and Exchange Commission today announced charges against Fernando Passos, the former executive vice president of finance and investor relations of Brazilian reinsurance company IRB Brasil Resseguros S.A., for allegedly planting a false story with the media and disseminating false documents claiming that Berkshire Hathaway Inc. had recently made a substantial investment in IRB.

SEC Uncovers $194 Million Penny Stock Schemes that Spanned Three Continents 
2022-62, April 18, 2022  — The Securities and Exchange Commission today announced charges against 16 defendants, located in the Bahamas, the British Virgin Islands, Bulgaria, Canada, the Cayman Islands, Monaco, Spain, Turkey, and the United Kingdom, for participating in multi-year fraudulent penny stock schemes that generated more than $194 million in illicit proceeds. The SEC investigations leading to these charges involved assistance from securities regulators and other law enforcement authorities in more than 20 countries and are associated, in part, with parallel criminal actions announced by the United States Attorney’s Office for the Southern District of New York.