Trusted Professional

Regulatory Roundup - March 8-14

AICPA 

AICPA & CIMA will suspend indefinitely services in Russia and Belarus. 
Mar 08, 2022 

CBO 

Cost Estimate 
Legislation considered under suspension of the Rules of the House of Representatives during the week of March 14, 2022 
March 11, 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.

Blog Post 
Upcoming Presentations 
March 11, 2022
CBO’s Director, Phillip Swagel, discusses his recent and upcoming presentations.

Report 
Federal Debt Under Alternative Paths for Interest Rates 
March 10, 2022
CBO responds to Congressman Jason Smith's request for the agency's estimate of the effects of higher interest rates on federal debt over the long term.

Cost Estimate 
H.R. 268, a bill to provide for the boundary of the Palo Alto Battlefield National Historic Park to be adjusted, to authorize the donation of land to the United States for addition to that historic park, and for other purposes 
March 10, 2022
As reported by the House Committee on Natural Resources on March 9, 2022

Cost Estimate 
H.R. 2793, Highlands Conservation Reauthorization Act of 2021 
March 10, 2022
As ordered reported by the House Committee on Natural Resources on January 19, 2022

Presentation 
Highlights of CBO's Recent Transparency Efforts 
March 10, 2022
Presentation by Deborah Kilroe, CBO's Director of Communications, to a public meeting of the legislative branch's Bulk Data Task Force.

Cost Estimate 
S. 648, Technical Correction to the Shoshone-Paiute Tribes of the Duck Valley Reservation Water Rights Settlement Act of 2021 
March 10, 2022
As ordered reported by the Senate Committee on Indian Affairs on November 17, 2021

Cost Estimate 
S. 2838, Access to Congressionally Mandated Reports Act 
March 9, 2022
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on November 3, 2021

Report 
Transparency at CBO: Future Plans and a Review of 2021 
March 9, 2022
CBO's transparency efforts are intended to promote a thorough understanding of its work, help people gauge how estimates might change if policies or circumstances differed, and enhance the credibility of its analyses and processes.

Cost Estimate 
H.R. 3009, Improving Language Access in Mortgage Servicing Act of 2021 
March 8, 2022
As ordered reported by the House Committee on Financial Services on May 12, 2021

Report Monthly Budget Review: February 2022
Monthly Budget Review: February 2022 
March 8, 2022
The federal budget deficit was $475 billion in the first five months of fiscal year 2022, CBO estimates. That amount is less than deficits recorded during the same period in the two prior fiscal years.

Cost Estimate 
H.R. 3469, Veteran Entrepreneurship Training Act of 2021 
March 7, 2022
As passed by the House of Representatives on November 2, 2021

Cost Estimate 
H.R. 5706, Stop Sexual Assault and Harassment in Transportation Act 
March 7, 2022
As ordered reported by the House Committee on Transportation and Infrastructure on October 27, 2021 

FAF 

Financial Accounting Foundation Seeks Nominations for Private Company Council 
March 11, 2022 

FASB 

Media Advisory 
March 9, 2022
Registration Opens for April 5, 2022 FASB Webcast, IN FOCUS: 2022 GAAP and SEC Reporting Taxonomy Improvements and SEC Update 
Norwalk, CT, March 9, 2022—Registration is open for an upcoming Financial Accounting Standards Board (FASB) webcast IN FOCUS: 2022 GAAP and SEC Reporting Taxonomy Improvements and SEC Update....


GAO 

2020 Census 
Bureau Released Apportionment and Redistricting Data, but Needs to Finalize Plans for Future Data Products 
GAO-22-105324 
Published: Mar 14, 2022. 
Publicly Released: Mar 14, 2022. 
This report is the sixth in a series on the Census Bureau's 2020 Census activities. It includes information on operations since our Dec. 

Transportation Security 
TSA Efforts to Coordinate with Stakeholders on COVID-19 Security Directives 
GAO-22-104583 
Published: Mar 14, 2022. 
Publicly Released: Mar 14, 2022. 
Starting in January 2020, presidential executive actions restricted international air travel from certain countries and mandated face masks on transportation systems due to COVID-19. 

Veterans Community Care Program 
VA Should Strengthen Its Ability to Identify Ineligible Health Care Providers [Reissued with revisions on Mar. 11, 2022.] 
GAO-22-103850 
Published: Dec 17, 2021. 
Publicly Released: Mar 11, 2022. 
The VA allows eligible veterans to receive care from community providers when they face challenges accessing care at VA medical facilities. The VA is still responsible for ensuring that these community providers are qualified and competent. 

Indian Energy Service Center 
Support Activities Have Been Provided, but Goals and Performance Measures Should Be Defined 
GAO-22-103514 
Published: Mar 10, 2022. 
Publicly Released: Mar 10, 2022. 
Indian country contains oil, gas, and coal as well as potential for wind and solar energy development. Multiple federal and tribal agencies are involved in regulating development of these resources and distributing royalty payments. 

Indian Health Service 
Information on Third-Party Collections and Processes to Procure Supplies and Services 
GAO-22-104742 
Published: Mar 10, 2022. 
Publicly Released: Mar 10, 2022. 
The Indian Health Service delivers health care to American Indians and Alaska Natives. Much of IHS facilities' funding comes from third-party collections—payments for patients' medical care received from public programs (such as Medicare) or from private insurers. 

Leading Practices 
Agency Acquisition Policies Could Better Implement Key Product Development Principles 
GAO-22-104513 
Published: Mar 10, 2022. 
Publicly Released: Mar 10, 2022. 
Together, the Departments of Defense and Homeland Security and NASA invest hundreds of billions of dollars each year to develop and deliver a wide range of systems, from stealth jets to lunar rovers. Leading companies rely on certain principles to ensure product development success. 

Climate Resilience 
Opportunities to Improve Federal Planning and Implementation 
GAO-22-105688 
Published: Mar 08, 2022. 
Publicly Released: Mar 08, 2022. 
Natural disasters in the U.S. have caused an average of almost $150 billion in damages per year over the past five years. These costs are likely to rise as the climate changes, creating a key source of federal fiscal exposure (see our High Risk List). 

DHS Annual Assessment 
Most Acquisition Programs Are Meeting Goals Even with Some Management Issues and COVID-19 Delays 
GAO-22-104684 \
Published: Mar 08, 2022. 
Publicly Released: Mar 08, 2022. 
This is our 7th annual assessment of cost and schedule goals for the Department of Homeland Security's major acquisition programs. We reviewed 23 programs with approved baselines—which establish how the system being acquired will perform, when it will be delivered, and what it will cost. 

Data Center Optimization 
Agencies Continue to Report Mixed Progress Against OMB's Targets 
GAO-22-105118 
Published: Mar 08, 2022. 
Publicly Released: Mar 08, 2022. 
The Office of Management and Budget manages a government-wide effort to optimize and consolidate federal data centers. In FY 2020, 24 agencies planned to close a total of 46 data centers—and ended up closing 96, saving $875.10 million. 

GASB Requests Proposals for 2022 Crain Research Grants  
[03/10/22] 
Request for Research 

IASB

March 2022 International Accounting Standards Board meeting papers now available 
Meeting    
11 Mar 2022     

IFRS Foundation Asia-Oceania office 2021 activity summary 
News summary
10 Mar 2022   

IFRS Interpretations Committee—call for members 
Careers 
 9 Mar 2022

IRS 

IRS looking to hire Collection Contact Representatives in Mississippi; job openings posted in special Delta initiative 
IR-2022-57, March 11, 2022 — As part of a Service-wide effort to help under-served communities, the Internal Revenue Service announced today that it is looking for applicants to staff a new call site in Mississippi starting this spring. 

IRS unveils voice and chat bots to assist taxpayers with simple collection questions and tasks; provides faster service, reduced wait times 
IR-2022-56, March 10, 2022 — The Internal Revenue Service today announced it has begun using voice and chat bots on two of its specialized toll-free telephone assistance lines and IRS.gov, enabling taxpayers with simple payment or collection notice questions to get what they need quickly and avoid waiting. 

IRS hiring more than 5,000 positions in Austin, Kansas City, Ogden 
IR-2022-55, March 10, 2022 — To help serve taxpayers during this challenging tax season, the Internal Revenue Service announced today that it is hiring more than 5,000 positions in its service processing centers located in Austin, Texas; Kansas City, Missouri; and Ogden, Utah. 

IRS highlights importance of Child and Dependent Care Credit; can help families, others 
IR-2022-54, March 8, 2022 — The Internal Revenue Service issued a filing season reminder today that those taxpayers who pay expenses for the care of a qualifying person while working or looking for work may qualify for an important tax credit. 

IRS revised 2021 Child Tax Credit and Advance Child Tax Credit Payments frequently asked questions 
IR-2022-53, March 8, 2022 — The Internal Revenue Service today updated its frequently asked questions (FAQs) (FS-2022-17) on the 2021 Child Tax Credit and Advance Child Tax Credit Payments. 

Tax Time Guide: Saving for retirement? IRA contributions for 2021 can be made until April 18 
IR-2022-52, March 8, 2022 — The Internal Revenue Service reminds taxpayers they may be able to claim a deduction on their 2021 tax return for contributions to their Individual Retirement Arrangement (IRA) made through April 18, 2022. 

NYC 

Department of Finance Announces Changes to Stipulated Fine Program 
March 9, 2022 

NYS 

Protect Your Sensitive Information and Tax Refund
March 10, 2022 

Superintendent Adrienne A. Harris Announces DFS Secures More than $66 Million to Consumers & Health Providers in 2021
March 10, 2022

SEC 

SEC Awards Approximately $14 Million to Whistleblower   
2022-40March 11, 2022   The Securities and Exchange Commission today announced an award of about $14 million to a whistleblower who published an online report exposing an ongoing fraud. The whistleblower, who days later shared the same information with the SEC and was persistent in reaching out to the staff, prompted the opening of an investigation which resulted in a successful enforcement action and the return of millions of dollars to harmed investors. 

SEC Proposes Rules on Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure by Public Companies        
2022-39, March 9, 2022 —  The Securities and Exchange Commission today proposed amendments to its rules to enhance and standardize disclosures regarding cybersecurity risk management, strategy, governance, and incident reporting by public companies.

SEC Awards More Than $3.5 Million to Whistleblower       
2022-38, March 8, 2022 — The Securities and Exchange Commission today announced an award of more than $3.5 million to a whistleblower who provided critical information that significantly contributed to the success of two SEC enforcement actions.  The whistleblower’s information prompted SEC staff to further investigate certain potential securities violations, saved SEC staff time and resources, and helped advance settlement discussions.  

SEC Charges Siblings in $124 Million Crypto Fraud Operation that included Misleading Roadshows, YouTube Videos 
2022-37, March 8, 2022 —  The Securities and Exchange Commission today charged siblings John and JonAtina (Tina) Barksdale with defrauding thousands of retail investors out of more than $124 million through two unregistered fraudulent offerings of securities involving a digital token called “Ormeus Coin.” 

SEC Investor Advisory Committee to Discuss Artificial Intelligence and Cybersecurity on March 10     
2022-36, March 7, 2022 — The Securities and Exchange Commission’s Investor Advisory Committee will hold a public meeting remotely on March 10 at 10:00 a.m. ET. The meeting is open to the public via live webcast, and will be archived on the committee's website for later viewing. 

SEC Charges Previously-Barred Investment Adviser with Fraud   
2022-35, March 7, 2022 — The Securities and Exchange Commission today charged a previously-barred North Carolina-based investment adviser with lying to retail investors about the use and value of their investments. 

TIGTA 

Results of the 2021 Filing Season 
March 9, 2022