AICPA

Comment Letters
AICPA Comments on Oversight Subcommittee November 20, 2020 Hearing with the Commissioner of the IRS
Taxpayers and tax preparers faced insurmountable challenges and were unable to pay taxes or timely file tax returns by the extended due date.
December 7, 2020

Press Release
Applications Open for nearly $1 million in AICPA Scholarships
The AICPA is offering nearly $1 million in scholarships to support the next generation of CPAs in attaining their accounting education
December 1, 2020

CBO

Cost Estimate
Statutory Pay-As-You-Go Effects of H.R. 6395, the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021
December 7, 2020
Letter to the Honorable John Yarmuth

Cost Estimate
Statutory Pay-As-You-Go Effects of H.R. 6395, the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021
December 7, 2020
Letter to the Honorable Mike Enzi

Cost Estimate
H.R. 1603, Alan Reinstein Ban Asbestos Now Act of 2019
December 4, 2020
As ordered reported by the House Committee on Energy and Commerce on November 19, 2019

Cost Estimate
H.R. 3884, MORE Act of 2020
December 4, 2020
As passed by the House of Representatives on December 4, 2020

Cost Estimate
H.R. 5201, Telemental Health Expansion Act of 2020
December 4, 2020
As ordered reported by the House Committee on Energy and Commerce on July 15, 2020

Cost Estimate
S. 4556, a bill to authorize the Secretary of Health and Human Services, acting through the Director of the Indian Health Service, to acquire private land to facilitate access to the Desert Sage Youth Wellness Center in Hemet, California, and for other pu
December 4, 2020
As ordered reported by the Senate Committee on Indian Affairs on November 18, 2020

Cost Estimate
S. 4511, Veteran Benefits Enhancement and Expansion Act of 2020
December 3, 2020
As ordered reported by the Senate Committee on Veterans’ Affairs on September 23, 2020

Cost Estimate
S. 4133, Real ID Modernization Act
December 2, 2020
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on July 22, 2020

Cost Estimate
CBO’s Estimate of the Statutory Pay-As-You-Go Effects of H.R. 1830, National Purple Heart Commemorative Coin Act
December 1, 2020
As passed by the Senate on November 16, 2020

Cost Estimate
CBO’s Estimate of the Statutory Pay-As-You-Go Effects of H.R. 8255, Catawba Indian Nation Lands Act
December 1, 2020
As introduced in the House of Representatives on September 15, 2020

Cost Estimate
H.R. 7856, Intelligence Authorization Act for Fiscal Year 2021
December 1, 2020
As reported by the House Permanent Select Committee on Intelligence on October 30, 2020

FAF

FAF Appoints Two New Private Company Council Members  [12/03/20]
Media Advisory

FAF Issues Statement Remembering Former FASB Chairman Edmund L. Jenkins, Who Died December 2  [12/03/20]
Media Advisory

FASB

FAF Appoints Two New Private Company Council Members  [12/03/20]
Media Advisory

FAF Issues Statement Remembering Former FASB Chairman Edmund L. Jenkins, Who Died December 2  [12/03/20]
Media Advisory

GAO

2020 Census:
Census Bureau Needs to Assess Data Quality Concerns Stemming from Recent Design Changes
GAO-21-142: Published: Dec 3, 2020. Publicly Released: Dec 3, 2020.

2020 Census:
Census Bureau Needs to Ensure Transparency over Data Quality
GAO-21-262T: Published: Dec 3, 2020. Publicly Released: Dec 3, 2020

Gender Pay Differences:
The Pay Gap for Federal Workers Has Continued to Narrow, but Better Quality Data on Promotions Are Needed
GAO-21-67: Published: Dec 3, 2020. Publicly Released: Dec 3, 2020.

Foreign Assistance:
USAID Should Analyze Data on the Timeliness of Expenditures
GAO-21-51: Published: Dec 2, 2020. Publicly Released: Dec 2, 2020.

Navy and Marine Corps:
Services Continue Efforts to Rebuild Readiness, but Recovery Will Take Years and Sustained Management Attention
GAO-21-225T: Published: Dec 2, 2020. Publicly Released: Dec 2, 2020.

Military Child Care:
Off-Base Financial Assistance and Wait Lists for On-Base Care
GAO-21-127R: Published: Dec 1, 2020. Publicly Released: Dec 1, 2020.

Military Health Care:
Defense Health Agency Processes for Responding to Provider Quality and Safety Concerns
GAO-21-160R: Published: Dec 1, 2020. Publicly Released: Dec 1, 2020.

Artificial Intelligence in Health Care:
Benefits and Challenges of Technologies to Augment Patient Care
GAO-21-7SP: Published: Nov. 30, 2020 Publicly Released: Nov. 30, 2020

COVID-19:
Urgent Actions Needed to Better Ensure an Effective Federal Response
GAO-21-191: Published: Nov. 30, 2020 Publicly Released: Nov. 30, 2020

Federal Buying Power:
OMB Can Further Advance Category Management Initiative by Focusing on Requirements, Data, and Training
GAO-21-40: Published: Nov. 30, 2020 Publicly Released: Nov. 30, 2020

Public Health:
Federal Programs Provide Screening and Treatment for Breast and Cervical Cancer
GAO-21-35: Published: Oct. 28, 2020 Publicly Released: Nov. 30, 2020

IASB

04 December 2020
December 2020 IASB meeting papers and agenda now available

04 December 2020
Academic research input to the IASB's work

01 December 2020
November 2020 monthly news summary

IRS

National Tax Security Awareness Week, Day 5: Security Summit alerts tax professionals to potential telework scams during COVID-19, urges all practitioners to use multi-factor authentication
IR-2020-271, December 4, 2020 — The IRS, state tax agencies and the tax industry marked the final day of National Tax Security Awareness Week with a warning to all tax professionals that they face additional challenges from cybercriminals seeking to exploit COVID-19 fears.

Interest rates remain the same for the first quarter of 2021
IR-2020-270, December 3, 2020 — The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning January 1, 2021.

IRS to employers: Remember February 1, 2021 deadline for Form W-2, other wage statements
IR-2020-269, December 3, 2020 — The Internal Revenue Service today reminded employers that they must file Form W-2 and other wage statements by February 1, 2021, to avoid penalties and help the IRS prevent fraud.

National Tax Security Awareness Week, Day 4: Security Summit urges businesses to tighten security, offers new protections against identity theft
IR-2020-268, December 3, 2020 — The Internal Revenue Service, state tax agencies and the tax industry urged businesses to be on guard as thieves try to use their stolen names and data to file fraudulent tax returns.

National Tax Security Awareness Week, Day 3: IRS expands Identity Protection PIN Opt-In Program to taxpayers nationwide
IR-2020-267, December 2, 2020 — As part of the Security Summit effort, the Internal Revenue Service announced today that starting in January the Identity Protection PIN Opt-In Program will be expanded to all taxpayers who can properly verify their identities.

IRS National Tax Security Awareness Week, Day 2: 2021 online tax preparation products to offer multi-factor authentication for taxpayers, tax pros
IR-2020-266, December 1, 2020 — The Internal Revenue Service, state tax agencies and the tax industry today marked the second day of National Tax Security Awareness Week by announcing an improved feature that will be available on all 2021 online tax preparation products.

National Tax Security Awareness Week opens with warnings to all taxpayers and tax professionals as holidays, 2021 tax season approach
IR-2020-265, November 30, 2020 — The Internal Revenue Service and the Security Summit partners today issued warnings to all taxpayers and tax professionals to beware of scams and identity theft schemes by criminals taking advantage of the combination of holiday shopping, the approaching tax season and coronavirus concerns.

PCAOB

News Release
PCAOB Issues COVID-19 Spotlight, Provides Insights and Reminders for Auditors
Date
Dec. 2, 2020

News Release
PCAOB Launches New Brand and Redesigned Website, Advances Key Strategic Priority
Date
Dec. 1, 2020

SEC

SEC Charges The Cheesecake Factory For Misleading COVID-19 Disclosures
2020-306, Dec. 4, 2020 — The Securities and Exchange Commission today announced settled charges against The Cheesecake Factory Incorporated for making misleading disclosures about the impact of the COVID-19 pandemic on its business operations and financial condition. The action is the SEC's first charging a public company for misleading investors about the financial effects of the pandemic.

SEC Announces New Investor Advisory Committee Members
2020-305, Dec. 3, 2020 —The Securities and Exchange Commission today announced the appointment of eight new members to its Investor Advisory Committee. The Committee was established under the Dodd-Frank Wall Street Reform and Consumer Protection Act to, among other things, advise the Commission on regulatory priorities, regulation of securities products, trading strategies, fee structures, disclosure effectiveness, and initiatives to help protect investors and promote investor confidence and the integrity of the U.S. securities markets.

Nekia Hackworth Jones Named Director of Atlanta Regional Office
2020-304, Dec. 3, 2020 — The Securities and Exchange Commission today announced that Nekia Hackworth Jones has been named Director of the Atlanta Regional Office. She will join the SEC next month.

SEC Announces Office Focused on Innovation and Financial Technology
2020-303, Dec. 3, 2020 —The Securities and Exchange Commission today announced that the SEC's Strategic Hub for Innovation and Financial Technology, commonly referred to as FinHub, will become a stand-alone office. Valerie A. Szczepanik will continue to lead FinHub as its first director and will report directly to the SEC Chairman.

SEC Modernizes Framework for Fund Valuation Practices
2020-302, Dec. 3, 2020 — The Securities and Exchange Commission today announced that it voted to adopt a new rule that establishes an updated regulatory framework for fund valuation practices.  The rule is designed to clarify how fund boards of directors can satisfy their valuation obligations in light of market developments, including an increase in the variety of asset classes held by funds and an increase in both the volume and type of data used in valuation determinations​

Energy Companies Agree to Settle Fraud Charges Stemming From Failed Nuclear Power Plant Expansion
2020-301, Dec. 2, 2020 — The Securities and Exchange Commission today announced that SCANA Corp. and its subsidiary South Carolina Electric & Gas Co. (SCE&G) have agreed to settle the SEC’s lawsuit charging them with defrauding investors by making false and misleading statements about a nuclear power plant expansion that was ultimately abandoned. The proposed settlement, which remains subject to court approval, would require SCANA to pay a $25 million penalty, and SCANA and SCE&G to pay $112.5 million in disgorgement plus prejudgment interest.

SEC Charges Disbarred New York Attorney and Florida Attorney with Scheme to Create False Opinion Letters
2020-300, Dec. 2, 2020 —The Securities and Exchange Commission today charged disbarred attorney, Richard J. Rubin, and licensed attorney, Thomas J. Craft, with fraud for their roles in a legal opinion letter scheme to fraudulently facilitate the sale of millions of shares of microcap securities to retail investors.

SEC Charges Unregistered Investment Adviser with Defrauding Puerto Rico Municipality
2020-299, Dec. 1, 2020 — The Securities and Exchange Commission today charged an unregistered investment adviser based in Orlando, Florida for defrauding the Municipality of Mayagüez, Puerto Rico and misappropriating $7.1 million of taxpayer funds.

SEC Charges Boiler Rooms Operator with Defrauding Retail Investors
2020-298, Dec. 1, 2020 — The SEC today charged New York resident Mark Alan Lisser with fraud for operating at least two boiler rooms, on Long Island, New York and in Boca Raton, Florida, through which he raised approximately $2.1 million from at least 71 retail investors and misappropriated more than $900,000 of their funds.

SEC Awards Over $6 Million to Joint Whistleblowers
2020-297, Dec. 1, 2020 — The Securities and Exchange Commission today announced an award of over $6 million to joint whistleblowers whose information and assistance led to the successful enforcement of SEC and related actions.  The whistleblowers’ substantial assistance, provided to the SEC and another government agency, included submitting documents, participating in interviews, and identifying key individuals involved in the misconduct.

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