Regulatory Roundup - July 9-18
AICPA
AICPA, NC State release U.S. ERM report : Despite perceived high volumes and complexities of risks, most organizations describe their risk management processes as immature
Jul 12, 2022
CBO
Cost Estimate
CBO Estimate of Discretionary Spending Under H.R. 8294, the Transportation, Housing and Urban Development, Agriculture, Rural Development, Energy and Water Development, Financial Services and General Government, Interior, Environment, Military Construct
July 15, 2022
As posted on the House Committee on Rules Website
Suspension Bill
Legislation considered under suspension of the Rules of the House of Representatives during the week of July 18, 2022
July 15, 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
S. 2428, False Claims Amendments Act of 2021
July 15, 2022
As reported by the Senate Committee on the Judiciary on November 16, 2021
Cost Estimate
S. 3502, Achieving Equity in Disaster Response, Recovery, and Resilience Act of 2022
July 15, 2022
As ordered reported by the Senate Committee on Homeland Security and on February 2, 2022
Cost Estimate
Estimated Budgetary Effects of the Improving Needed Safeguards for Users of Lifesaving Insulin Now Act
July 14, 2022
As Posted on the Website of Senator Shaheen on July 11, 2022 (version TAM22C90)
Cost Estimate
H.R. 5118, Continental Divide Trail Completion Act
July 14, 2022
As ordered reported by the House Committee on Natural Resources on January 19, 2022
Cost Estimate
S. 177, Cerro de la Olla Wilderness Establishment Act
July 14, 2022
As ordered reported by the Senate Committee on Energy and Natural Resources on May 3, 2022
Cost Estimate
S. 3375, Omnibus Travel and Tourism Act of 2021
July 14, 2022
As reported by the Senate Committee on Commerce, Science, and Transportation on December 17, 2021
Cost Estimate
S. 3635, Public Safety Officer Support Act of 2022
July 14, 2022
As reported by the Senate Committee on the Judiciary on June 14, 2022
Cost Estimate
S. 3655, Civil Rights Cold Case Investigations Support Act of 2022
July 14, 2022
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on March 30, 2022
Cost Estimate
CBO’s Estimate of the Statutory Pay-As-You-Go Effects of H.R. 521, the First Responder Fair RETIRE Act
July 12, 2022
As ordered Reported by the House Committee on Oversight and Reform on May 11, 2022
Report
CBO’s Recent Publications and Work in Progress as of June 30, 2022
July 11, 2022
In this report, the latest in a quarterly series, CBO highlights its recent work and summarizes its work in progress.
Report
Monthly Budget Review: June 2022
July 11, 2022
The federal budget deficit was $514 billion in the first nine months of fiscal year 2022, CBO estimates. That amount is less than one-quarter of the $2.2 trillion shortfall recorded during the same period in 2021.
Cost Estimate
S. 2264, Native American Housing Assistance and Self-Determination Reauthorization Act of 2021
July 11, 2022
As ordered reported by the Senate Committee on Indian Affairs on February 16, 2022
Cost Estimate
S. 2524, a bill to amend the Alaska Native Claims Settlement Act to exclude certain payments to aged, blind, or disabled Alaska Natives or descendants of Alaska Natives from being used to determine eligibility or certain programs, and for other purposes
July 11, 2022
As reported by the Senate Committee on Energy and Natural Resources on February 10, 2022
FASB
FASB Proposes to Improve Certain Transition Requirements in Long-Duration Insurance Guidance
July 15, 2022
GAO
K-12 Education
Student Population Has Significantly Diversified, but Many Schools Remain Divided Along Racial, Ethnic, and Economic Lines
GAO-22-104737
Published: Jun 16, 2022.
Publicly Released: Jul 14, 2022.
What GAO Found As the K-12 public school student population grows significantly more diverse, schools remain divided along racial, ethnic, and economic lines throughout the U.S. These divisions span school types, regions, and community types (urban, suburban, and rural).
Priority Open Recommendations Department of Labor
Restaurant Revitalization Fund Opportunities Exist to Improve Oversight
Nuclear Waste Cleanup Enhanced Coordination, Prioritization, and Leadership Commitment Could Improve DOE Research and Development Efforts
Air Quality Information Need Remains for Plan to Modernize Air Monitoring
Federal Spending Transparency OIGs Identified a Variety of Issues with the Quality of Agencies' Data Submissions
State Partnership Program DOD Should Ensure Partner States Record Completed Activities and Clarify Appropriate Authorities
State Department Additional Actions Needed to Address IT Workforce Challenges
2020 Elections State and Local Perspectives on Election Administration during the COVID-19 Pandemic
Contact Tracing for Air Travel CDC's Data System Needs Substantial Improvement
GAO-22-105018
Published: Jul 11, 2022.
Publicly Released: Jul 11, 2022.
What GAO Found The Centers for Disease Control and Prevention (CDC) plays a key role in contact tracing for air travel—the process of identifying and notifying passengers who may have come into contact with a person infected with a communicable disease during a flight.
IASB
May 2022 Report of the Emerging Economies Group now available
Meeting
18 Jul 2022
Join the Staff—Project Team Coordinator
Careers
15 Jul 2022
Q2 2022 IFRS Interpretations Committee podcast now available
Podcast
15 Jul 2022
New appointment and four reappointments to the IFRS Interpretations Committee
Appointment
15 Jul 2022
IFRS Foundation Trustees appoint Tae-Young Paik and Elizabeth Seeger to the ISSB
Appointment
14 Jul 2022
IRS
IRS revises frequently asked questions about the 2021 Child Tax Credit and Advance Child Tax Credit
IR-2022-139, July 14, 2022 — The IRS today issued a revised set of frequently asked questions for the 2021 Child Tax Credit. These frequently asked questions (FAQs) are released to the public in Fact Sheet 2022-32, July 14, 2022.
Free IRS/FTC webinar to focus on scams, ID theft and IP PINs
IR-2022-138, July 14, 2022 — The Internal Revenue Service and the Federal Trade Commission will sponsor a free webinar designed to help everyone recognize and combat tax scams and tax-related identity theft.
Extension filers: IRS.gov is the source for summertime tax help; agency encourages people to file soon
IR-2022-137, July 13, 2022 — With millions of people still waiting to file their tax returns, the IRS reminds them to file as soon as possible and take advantage of special tools available on IRS.gov that can help them file.
Special virtual sessions coming up for those interested in compliance positions; IRS hiring 470 revenue agents
IR-2022-136, July 12, 2022 — The Internal Revenue Service, one of the largest single employers of professional accountants, is now hiring 470 revenue agents who will specialize in auditing or examining both individual and business taxpayers nationwide.
IRS Security Summit renews warnings for tax pros to guard against identity theft amid continued threats
IR-2022-135, July 12, 2022 — As the battle continues against tax-related identity theft, the IRS, state tax agencies and the tax industry renewed their call for tax professionals to be on guard against new and ongoing threats involving their systems and taxpayer data.
IRS Nationwide Tax Forum kicks off July 19
IR-2022-134, July 11, 2022 — This Thursday, July 14, is the last day for tax professionals to register to attend the 2022 IRS Nationwide Tax Forum and have access to all 32 webinars — including a keynote address by IRS Commissioner Chuck Rettig, updates on tax law, cybersecurity, practitioner ethics and more.
NYS
DFS Superintendent Adrienne A. Harris Calls on Federal Loan Servicers to Increase Awareness and Enrollment in Public Service Loan Forgiveness Program Before Temporary Program Rules Change
2022-07-13
Superintendent Adrienne A. Harris Announces New Guidance Prohibiting Unfair and Deceptive Overdraft and Non-Sufficient Funds Fees
2022-07-11
PCAOB
250 Students Named PCAOB Scholars for the 2022-2023 Academic Year
Jul. 14, 2022
SEC
SEC Awards Whistleblowers More Than $6 Million
2022-122, July 15, 2022 — The Securities and Exchange Commission today announced awards totaling more than $6 million to two whistleblowers who provided critical information and assistance in two separate covered actions.
SEC Proposes Amendments to Shareholder Proposal Rule
2022-121, July 13, 2022 — The Securities and Exchange Commission today proposed amendments to the rule that governs the process for including shareholder proposals in a company’s proxy statement. Under Rule 14a-8, companies generally must include shareholder proposals in their proxy statements. The rule, however, provides several bases for exclusion, including several substantive requirements that proposals must comply with to avoid exclusion. The proposed amendments would revise three of the bases for exclusion to promote more consistency and predictability in application.
SEC Adopts Amendments to Proxy Rules Governing Proxy Voting Advice
2022-120, July 13, 2022 — The Securities and Exchange Commission today voted to adopt amendments to its rules governing proxy voting advice as proposed in November 2021. The final amendments aim to avoid burdens on proxy voting advice businesses that may impair the timeliness and independence of their advice. The amendments also address misperceptions about liability standards applicable to proxy voting advice while also preserving investors’ confidence in the integrity of such advice.
TIGTA