CBO 

Cost Estimate 
H.R. 2020, Post-Disaster Assistance Online Accountability Act 
May 27, 2022
As ordered reported by the House Committee on Transportation and Infrastructure on April 28, 2022

Cost Estimate ]
H.R. 3588, Mathematical and Statistical Modeling Education Act 
May 27, 2022
As ordered reported by the House Committee on Science, Space, and Technology on April 5, 2022

Cost Estimate 
H.R. 6845, Commercial Remote Sensing Amendment Act of 2022 
May 27, 2022
As ordered reported by the House Committee on Science, Space, and Technology on April 5, 2022

Cost Estimate 
H.R. 7675, a bill to amend the Department of Agriculture Reorganization Act of 1994 to establish an Agricultural and Food System Supply Chain Resilience and Crisis Response Task Force, and for other purposes 
May 27, 2022
As ordered reported by the House Committee on Agriculture on May 17, 2022

Cost Estimate 
S. 138, Wildland Firefighter Fair Pay Act 
May 27, 2022
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on November 3, 2021

Cost Estimate 
H.R. 4777, Nondebtor Release Prohibition Act of 2021 
May 26, 2022
As ordered reported by the House Committee on the Judiciary on November 3, 2021

Cost Estimate 
H.R. 7369, Veteran Eligibility for Necessities to Undertake Rewarding Entrepreneurship (VENTURE) Act 
May 26, 2022
As ordered reported by the House Committee on Veterans’ Affairs on April 6, 2022

Cost Estimate 
S. 2372, Recovering America’s Wildlife Act of 2022 
May 26, 2022
As reported by the Senate Committee on Environment and Public Works on April 27, 2022

Report 
Testimony on the Budget and Economic Outlook: 2022 to 2032 
May 26, 2022
CBO Director Phillip Swagel testifies before the House Budget Committee.

Presentation 
An Overview of The Budget and Economic Outlook: 2022 to 2032 
May 25, 2022
CBO Director Phillip Swagel briefs members of the press on The Budget and Economic Outlook: 2022 to 2032.

Blog Post 
Director’s Statement on The Budget and Economic Outlook: 2022 to 2032 
May 25, 2022
CBO Director Phillip Swagel highlights the main findings of The Budget and Economic Outlook: 2022 to 2032.

Report 
The Budget and Economic Outlook: 2022 to 2032 
May 25, 2022
In CBO’s projections, assuming that current laws generally remain unchanged, the federal deficit totals $1.0 trillion in fiscal year 2022 and averages $1.6 trillion per year from 2023 to 2032. Real GDP grows by 3.1 percent this year.

Cost Estimate 
H.R. 228, Legislation to Name United States Post Offices 
May 24, 2022
As ordered reported by the House Committee on Oversight and Reform on May 11, 2022

Cost Estimate 
H.R. 5976, Legislation to Name United States Post Offices 
May 24, 2022
As ordered reported by the House Committee on Oversight and Reform on May 11, 2022

Cost Estimate 
H.R. 6404, Legislation to Name United States Post Offices 
May 24, 2022
As ordered reported by the House Committee on Oversight and Reform on May 11, 2022

Cost Estimate 
H.R. 7417, Legislation to Name United States Post Offices 
May 24, 2022
As ordered reported by the House Committee on Oversight and Reform on May 11, 2022

Cost Estimate 
H.R. 7514, Legislation to Name United States Post Offices 
May 24, 2022
As ordered reported by the House Committee on Oversight and Reform on May 11, 2022

Cost Estimate 
S. 977, No Oil Producing and Exporting Cartels Act of 2021 
May 24, 2022
As ordered reported by the Senate Committee on the Judiciary on May 5, 2022

Cost Estimate 
H.R. 1415, A bill to amend the Coastal Zone Management Act of 1972 to authorize grants to Indian Tribes to further achievement of Tribal coastal zone objectives, and for other purposes 
May 23, 2022
As ordered reported by the House Committee on Natural Resources on January 19, 2022

Cost Estimate 
S. 1944, Vet Center Improvement Act of 2021 
May 23, 2022
As ordered reported by the Senate Committee on Veterans’ Affairs on December 15, 2021

Cost Estimate 
S. 3053, PRECIP Act 
May 23, 2022
As ordered reported by the Senate Committee on Commerce, Science, and Transportation on May 11, 2022

Cost Estimate 
S. 3123, A bill to amend the Siletz Reservation Act to address the hunting, fishing, trapping, and animal gathering rights of the Confederated Tribes of Siletz Indians, and for other purposes 
May 23, 2022
As ordered reported by the Senate Committee on Indian Affairs on April 6, 2022

Cost Estimate 
S. 3126, A bill to amend the Grand Ronde Reservation Act to address the hunting, fishing, trapping, and animal gathering rights of the Confederated Tribes of the Grand Ronde Community, and for other purposes 
May 23, 2022
As ordered reported by the Senate Committee on Indian Affairs on April 6, 2022

FAF 

Financial Accounting Foundation Releases Draft Strategic Plan for Public Comment
May 24, 2022

GAO 

Sexual Harassment and Assault 
The Army Should Take Steps to Enhance Program Oversight, Evaluate Effectiveness, and Identify Reporting Barriers 
GAO-22-104673 
Published: May 27, 2022. 
Publicly Released: May 27, 2022. 
What GAO Found The Army Sexual Harassment/Assault Response and Prevention (SHARP) program has policies to prevent, respond to, and resolve incidents of sexual harassment and assault. Program implementation, however, is hindered by disjointed policy, among other things. 

Coast Guard IT 
Actions Needed to Improve Processes for Overseeing Non-Major Acquisition Programs 
GAO-22-104707 
Published: May 26, 2022. 
Publicly Released: May 26, 2022. 
What GAO Found In 2017, the Coast Guard developed and implemented a multistep process to identify and designate if an IT system should be managed as a non-major acquisition program (assets with total costs of less than $300 million). 

Congressional Award Foundation 
Review of the FY 2021 Financial Statement Audit 
GAO-22-105835 
Published: May 26, 2022. 
Publicly Released: May 26, 2022. 
What GAO Found Based on the limited procedures GAO performed in reviewing the independent public accountant's (IPA) audit of the Congressional Award Foundation's fiscal year 2021 financial statements, GAO did not identify any significant issues it believes require attention. 

Consumer Protection 
Congress Should Consider Enhancing Protections around Scores Used to Rank Consumers 
GAO-22-104527 
Published: May 26, 2022. 
Publicly Released: May 26, 2022. 
What GAO Found Consumer scores are indicators that group consumers based on their past actions and characteristics. Score creators use public records and nonpublic information such as purchase histories to create scores. 

Equal Employment Opportunity 
Better Assistance and Data Use Could Improve Oversight of Veterans' Federal Contractor Employment 
GAO-22-104599 
Published: May 26, 2022. 
Publicly Released: May 26, 2022. 
What GAO Found The Office of Federal Contract Compliance Programs (OFCCP) helps contractors comply with affirmative action provisions for veterans protected under the Vietnam Era Veterans' Readjustment Assistance Act of 1974 (VEVRAA). 

Workplace Safety and Health 
Data and Enforcement Challenges Limit OSHA's Ability to Protect Workers during a Crisis 
GAO-22-105711 
Published: May 25, 2022. 
Publicly Released: May 25, 2022. 
What GAO Found From February 2020 through June 2021, the Occupational Safety and Health Administration (OSHA) relied primarily on existing workplace safety and health standards and voluntary employer guidance for its COVID-19-related enforcement. 

Priority Open Recommendations 
U.S. Agency for International Development 
GAO-22-105799 
Published: May 18, 2022. 
Publicly Released: May 25, 2022. 
What GAO Found In May 2021, GAO identified three priority recommendations for the U.S. Agency for International Development (USAID). 

Energy Resilience 
DOE's Northeast Petroleum Product Reserves 
GAO-22-105404 
Published: May 25, 2022. 
Publicly Released: May 25, 2022. 
What GAO Found The Department of Energy's (DOE) two petroleum product reserves as currently structured—holding 2 million barrels of heating oil and gasoline in commercial terminals across the Northeast—are not well suited to address the risks of supply disruptions in the region. 

Technology Modernization Fund 
Past Awards Highlight Need for Continued Scrutiny of Agency Proposals 
GAO-22-106054 
Published: May 25, 2022. 
Publicly Released: May 25, 2022. 
What GAO Found The Technology Modernization Fund (TMF) provides awards to agencies to, among other things, modernize aging federal information systems. 

Management Report 
IRS Needs to Improve Financial Reporting and Information System Controls 
GAO-22-105559 
Published: May 25, 2022. 
Publicly Released: May 25, 2022. 
What GAO Found During its audit of the Internal Revenue Service's (IRS) fiscal years 2021 and 2020 financial statements, GAO identified four new deficiencies in internal control over financial reporting. 

Defense Health Care 
Prevalence of and Efforts to Screen and Treat Mental Health Conditions in Prenatal and Postpartum TRICARE Beneficiaries 
GAO-22-105136 
Published: May 23, 2022. 
Publicly Released: May 23, 2022. 
What GAO Found Available data for fiscal years 2017-2019 show that about 36 percent of beneficiaries in the Department of Defense's (DOD) TRICARE program received mental health diagnoses during their perinatal periods. The perinatal period includes the time during pregnancy and through 1 year after. 

Oil and Gas 
Federal Actions Needed to Address Methane Emissions from Oil and Gas Development 
GAO-22-104759 
Published: Apr 20, 2022. 
Publicly Released: May 20, 2022. 
What GAO Found The Environmental Protection Agency (EPA) and the Department of the Interior's Bureau of Land Management (BLM) each issued regulations to reduce emissions of methane—a potent greenhouse gas—from oil and gas development. 

Foster Care 
Further Assistance from HHS Would be Helpful in Supporting Youth's LGBTQ+ Identities and Religious Beliefs 
GAO-22-104688 
Published: Apr 20, 2022. 
Publicly Released: May 20, 2022. 
What GAO Found A majority of all states had some protections from discrimination in place for youth in foster care on the basis of sexual orientation, gender identity, and religion as of February 2021, based on state survey responses that GAO corroborated. 

Nuclear Security Enterprise 
NNSA Could Enhance Its Evaluation of Manufacturing-Related R&D Performance 
GAO-22-104506 
Published: May 20, 2022. 
Publicly Released: May 20, 2022. 
What GAO Found In fiscal year 2021, National Nuclear Security Administration (NNSA) sites had underway almost 600 research and development (R&D) projects related to manufacturing and spent about $300 million on these efforts. 

Science & Tech Spotlight 
Alternative Data Storage Technologies 
GAO-22-105954 
Published: May 19, 2022. 
Publicly Released: May 19, 2022. 
Why This Matters Current technologies are energy intensive and may not meet the exponentially increasing demand for data storage. Without alternatives—such as synthetic DNA or glass—businesses, governments, and individuals may lose billions of gigabytes of data in the next decade. 

Tribal Funding 
Actions Needed to Improve Information on Federal Funds That Benefit Native Americans 
GAO-22-104602 
Published: May 19, 2022. 
Publicly Released: May 19, 2022. 
What GAO Found The Office of Management and Budget (OMB) provides information to tribal stakeholders and others on agency-reported federal funding for programs that benefit Native Americans (see figure). This information is known as the Native American Crosscut. 

IRS Security of Taxpayer Information 
Characteristics of Employee Unauthorized Access and Disclosure Cases 
GAO-22-105872 
Published: May 19, 2022. 
Publicly Released: May 19, 2022. 
What GAO Found Federal tax information consists of federal tax returns and return information and is covered by the confidentiality protections of the Internal Revenue Code. 

Special Education 
DOD Programs and Services for Military-Dependent Students with Disabilities 
GAO-22-105015 
Published: May 19, 2022. 
Publicly Released: May 19, 2022. 
What GAO Found A variety of Department of Defense (DOD) programs support military families who have children with disabilities in preK-12 schools. School Liaisons are the primary contacts for military families with preK-12 students who seek support, including special education issues. 

Management Report 
Improvements Needed in FDIC's Internal Control over Contract Documentation and Payment-Review Processes 
GAO-22-105824 
Published: May 19, 2022. 
Publicly Released: May 19, 2022. 
What GAO Found During the audits of the 2021 and 2020 financial statements of the two funds that the Federal Deposit Insurance Corporation (FDIC) administers—the Deposit Insurance Fund (DIF) and the Federal Savings and Loan Insurance Corporation Resolution Fund (FRF)—GAO continued to identify deficiencies... 

Defense Cybersecurity 
Protecting Controlled Unclassified Information Systems 
GAO-22-105259 
Published: May 19, 2022. 
Publicly Released: May 19, 2022. 
What GAO Found The Department of Defense (DOD) has reported implementing more than 70 percent of four selected cybersecurity requirements for controlled unclassified information (CUI) systems, based on GAO's analysis of DOD reports (including a June 2021 report to Congress) and data from DOD's risk management... 

Priority Open Recommendations 
Department of State 
GAO-22-105800 
Published: May 11, 2022. 
Publicly Released: May 18, 2022. 
What GAO Found In May 2021, GAO identified 11 priority recommendations for the Department of State. Since then, State has implemented 4 of those recommendations by, among other things, taking actions to help ensure U.S. 

Tax Equity 
Lack of Data Limits Ability to Analyze Effects of Tax Policies on Households by Demographic Characteristics 
GAO-22-104553 
Published: May 18, 2022. 
Publicly Released: May 18, 2022. 
What GAO Found GAO found that tax data are not consistently linked to households' demographic information. The Internal Revenue Service (IRS) collects demographic data that are explicitly referenced in the tax code. 

Tax Compliance 
IRS Audit Trends for Individual Taxpayers Vary by Income 
GAO-22-106032 
Published: May 18, 2022. 
Publicly Released: May 18, 2022. 
What GAO Found Audit Rates. From tax years 2010 to 2019, audit rates of individual income tax returns decreased for all income levels. On average, the audit rate for these returns decreased from 0.9 percent to 0.25 percent. 

Alaska Native Issues 
Federal Agencies Could Enhance Support for Native Village Efforts to Address Environmental Threats 
GAO-22-104241 
Published: May 18, 2022. 
Publicly Released: May 18, 2022. 
What GAO Found More than 70 out of over 200 Alaska Native villages face significant environmental threats from erosion, flooding, or thawing permafrost, according to a 2019 statewide assessment. Consequences from even a moderate flood or increasing erosion could be significant  

Priority Open Recommendations 
Department of the Treasury 
GAO-22-105633 
Published: May 10, 2022. 
Publicly Released: May 17, 2022. 
What GAO Found In June 2021, GAO identified 21 priority recommendations for the Department of the Treasury. 

Disaster Resilience 
Opportunities to Improve National Preparedness 
GAO-22-106046 
Published: May 17, 2022. 
Publicly Released: May 17, 2022. 
What GAO Found GAO has evaluated federal efforts to strengthen national preparedness and resilience and identified opportunities for improvement in several key areas: FEMA Efforts to Strengthen National Preparedness. 

COVID-19 
IRS Implemented Tax Relief for Employers Quickly, but Could Strengthen Its Compliance Efforts 
GAO-22-104280 
Published: May 17, 2022. 
Publicly Released: May 17, 2022. 
What GAO Found Starting in March 2020, Congress passed several laws, including the CARES Act, to provide employers with tax relief in response to the economic burden brought on by the COVID-19 pandemic. 

VA Vet Centers 
Opportunities Exist to Help Better Ensure Veterans' and Servicemembers' Readjustment Counseling Needs Are Met 
GAO-22-105039 
Published: May 17, 2022. 
Publicly Released: May 17, 2022. 
What GAO Found The Veterans Health Administration's (VHA) Readjustment Counseling Service (RCS) provides counseling (individual, group, couples, and family) through 300 Vet Centers to help eligible veterans, servicemembers, and their families readjust to civilian life or to continued military service.... 

Tax Compliance 
Trends of IRS Audit Rates and Results for Individual Taxpayers by Income 
GAO-22-104960 
Published: May 17, 2022. 
Publicly Released: May 17, 2022. 
What GAO Found Audit Rates. From tax years 2010 to 2019, audit rates of individual income tax returns decreased for all income levels. On average, the audit rate for these returns decreased from 0.9 percent to 0.25 percent.

IASB 

Join the IFRS Foundation Trustees 
Careers
31 May 2022

Addendum to April 2022 IFRIC Update now available 
Update
30 May 2022                                                       

May 2022 IASB Update available and work plan updated
Update
30 May 2022

Sustainability Standards Advisory Forum—Call for candidates 
Announcement             
30 May 2022

Join the staff—ISSB Administrative & Support Staff 
Careers
26 May 2022                                                       

Linda Mezon-Hutter and Robert Uhl appointed to the International Accounting Standards Board 
Appointment 
26 May 2022                                               

April 2022 IFRS Advisory Council meeting summary now available 
 Meeting
26 May 2022                                                      

Jurisdictional Working Group meeting summary now available 
Meeting
25 May 2022                                                       

Staff request for feedback to inform future development of the IFRS Sustainability Disclosure Taxonomy for digital reporting 
Consultation 
25 May 2022                                             

Integrated Reporting—articulating a future path 
Announcement 
25 May 2022                                         

IRS 

IRS releases fiscal year 2021 Data Book describing agency’s activities 
IR-2022-111, May 26, 2022 — The Internal Revenue Service today issued the Data Book detailing the agency’s activities during fiscal year 2021 (October 1, 2020 – September 30, 2021). 

IRS revises FAQs for Tax Year 2021 Earned Income Tax Credit 
IR-2022-110, May 25, 2022 — The IRS today revised frequently asked questions for the 2021 Earned Income Tax Credit (FS-2022-30) to educate eligible taxpayers on how to properly claim the credit when they prepare and file their 2021 tax return. 

IRS updates feature on Where’s My Refund? 
IR-2022-109, May 25, 2022 — The Internal Revenue Service made an important enhancement to the Where’s My Refund? online tool this week, introducing a new feature that allows taxpayers to check the status of their current tax year and two previous years’ refunds. 

NYS 

Attorney General James and Acting Tax Commissioner Hiller Announce Arrest of Alleged Ponzi Schemer for Tax Evasion 
May 20, 2022

PCAOB

Nayantara Hensel to Depart as Director of the PCAOB’s Office of Economic and Risk Analysis 
May 27, 2022

PCAOB Sanctions Former BF Borgers Audit Director for Violating PCAOB Rules and Standards in Four Audits of Three Public Companies 
May 24, 2022 

SEC 

SEC Announces Departure of Investor Advocate Rick A. Fleming 
2022-93, May 27, 2022    — The Securities and Exchange Commission today announced that Investor Advocate Rick A. Fleming will depart the agency after more than eight years of service. Mr. Fleming was appointed in February 2014 to be the first director of the Office of the Investor Advocate at the Commission.

SEC Proposes to Enhance Disclosures by Certain Investment Advisers and Investment Companies About ESG Investment Practices               
2022-92 , May 25, 2022  — The Securities and Exchange Commission today proposed amendments to rules and reporting forms to promote consistent, comparable, and reliable information for investors concerning funds’ and advisers’ incorporation of environmental, social, and governance (ESG) factors. The proposed changes would apply to certain registered investment advisers, advisers exempt from registration, registered investment companies, and business development companies.

SEC Proposes Rule Changes to Prevent Misleading or Deceptive Fund Names
2022-91, May 25, 2022  — The Securities and Exchange Commission today proposed amendments to enhance and modernize the Investment Company Act “Names Rule” to address changes in the fund industry and compliance practices that have developed in the approximately 20 years since the rule was adopted. A fund’s name is an important marketing tool and can have a significant impact on investors’ decisions when selecting investments, and the Names Rule addresses fund names that are likely to mislead investors about a fund’s investments and risks. The proposal follows a request for comment the SEC issued to gather public feedback on potential reforms to the rule in March 2020. 

SEC Halts Alleged Ongoing $39 Million Fraud by Hedge Fund Adviser            
2022-90, May 25, 2022  —  The Securities and Exchange Commission today announced fraud charges against Detroit-based EIA All Weather Alpha Fund I Partners LLC (EIA) and its sole owner, Andrew M. Middlebrooks, for allegedly engaging in a multi-year scheme that included the misappropriation and misuse of investors’ funds. To halt this alleged ongoing fraud, the SEC sought, and on May 19, 2022 obtained, emergency relief from the U.S. District Court in the Eastern District of Michigan, including a temporary restraining order against EIA and Middlebrooks and an asset freeze against the defendants and named relief defendants.

SEC Charges RiverSource Distributors with Improper Switching of Variable Annuities 
2022-89, May 25, 2022  — The Securities and Exchange Commission today announced settled charges against RiverSource Distributors Inc. for improper switching or replacing of variable annuities. This is the SEC’s first-ever enforcement proceeding under Section 11 of the Investment Company Act of 1940.

SEC Charges TradeZero America and Co-Founder with Deceiving Customers about Meme Stock Trading Halts         
2022-88, May 24, 2022  — The Securities and Exchange Commission today charged broker-dealer TradeZero America Inc., and its co-founder, Daniel Pipitone, with falsely stating to the firm’s customers that they didn’t restrict the customers’ purchases of meme stocks when in fact they did.

Richard R. Best Named Director of Division of Examinations 
2022-87, May 24, 2022  — The Securities and Exchange Commission today announced the appointment of Richard R. Best as Director of the Division of Examinations, effective immediately. He has served as the Division's acting director since March 23, 2022.