Regulatory Roundup - October 18-24
AICPA
AICPA & CIMA Offer Resources for Organizations Requiring an Audit of COVID Relief Funding
Oct. 20, 2022
CBO
Cost Estimate
S. 4528, Improving Digital Identity Act of 2022
October 21, 2022
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on September 28, 2022
Cost Estimate
H.R. 2758, Lumbee Recognition Act
October 20, 2022
As passed by the U.S. House of Representatives on November 1, 2021
Cost Estimate
H.R. 2872, SAFE Act
October 20, 2022
As ordered reported by the House Committee on Natural Resources on January 19, 2022
Cost Estimate
H.R. 4209, DHS Illicit Cross-Border Tunnel Defense Act
October 20, 2022
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on September 28, 2022
Cost Estimate
H.R. 7716, Coordinating Substance Use and Homelessness Care Act of 2022
October 20, 2022
As ordered reported by the House Committee on Financial Services on May 17, 2022
Cost Estimate
S. 4243, DHS Trade and Economic Security Council Act of 2022
October 20, 2022
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on May 25, 2022
Cost Estimate
Estimated Changes in Direct Spending and Revenues of H.R. 7900, the National Defense Authorization Act for Fiscal Year 2023
October 19, 2022
As Passed by the House of Representatives on July 14, 2022
Cost Estimate
H.R. 8852, End Veteran Hunger Act of 2022
October 19, 2022
As ordered reported by the House Committee on Veterans’ Affairs on September 21, 2022
Cost Estimate
H.R. 2512, Chisholm National Historic Trail and Western National Historic Trail Designation Act
October 18, 2022
As ordered reported by the House Committee on Natural Resources on January 19, 2022
Cost Estimate
H.R. 3111, Grandfamily Housing Act of 2022
October 18, 2022
As ordered reported by the House Committee on Financial Services on June 22, 2022
Cost Estimate
H.R. 3531, Women Who Worked on the Home Front World War II Memorial Act
October 18, 2022
As ordered reported by the Senate Committee on Energy and Natural Resources on July 21, 2022
Cost Estimate
H.R. 3816, American Innovation and Choice Online Act
October 18, 2022
As ordered reported by the House Committee on the Judiciary on June 24, 2021
Cost Estimate
H.R. 282, Territorial Judgeship Retirement Equity Act of 2022
October 17, 2022
As ordered reported by the House Committee on the Judiciary on June 15, 2022
Cost Estimate
H.R. 6824, President’s Cup Cybersecurity Competition Act
October 17, 2022
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on September 28, 2022
Cost Estimate
H.R. 7777, Industrial Control Systems Cybersecurity Training Act
October 17, 2022
As ordered reported by the Senate Committee on Homeland Security and Governmental Affairs on September 28, 2022
FASB
FASB Seeks Input on Proposed New Chapter of Its Conceptual Framework: The Reporting Entity
October 18, 2022
GAO
Critical Infrastructure Protection: Additional Federal Coordination Is Needed to Enhance K-12 Cybersecurity
GAO-23-105480
Published: .
Publicly Released: .
U.S. schools rely on information technology for many operations. But cybersecurity incidents, like ransomware attacks, could significantly affect everything from educational instruction to school operations. Three federal agencies assist schools in protecting against cyber threats. But there are no formal channels for how agencies coordinate with each other or with K-12 schools to address cybersecurity risks or incidents. Also, the agencies don't measure or obtain...
National Security Snapshot: Department of Defense and Intelligence Community Preparedness for Biological Threats
GAO-23-106066
Published:
Publicly Released:
Biological threats—such as COVID-19 or bioweapons, like anthrax—can cause catastrophic loss of life and global instability. Our work highlights areas relevant to DOD and the Intelligence Community, including preparedness for biological threats and China's intent to exploit U.S. genetic data. We made several key recommendations to improve how DOD and the Intelligence Community prepare for and respond to biological threats. DOD is taking a number...
Federal Vehicle Fleets: Observations on the Transition to Electric Vehicles
GAO-23-105635
Published:
Publicly Released:
In December 2021, the Biden Administration issued an Executive Order calling for most federal vehicle purchases to be zero-emission vehicles (such as electric vehicles) by 2035. This order affects about 380,000 federal vehicles as they need to be replaced. Agencies may need to acquire about 30,000 zero-emission vehicles each year to meet future fleet requirements. To support widespread electric vehicle use, the federal government may...
Minerais Sources De Conflits: La Paix et la Sécurité Globales dans l'Est de la République Démocratique du Congo ne se sont pas Améliorées depuis 2014
GAO-23-106085
Published:
Publicly Released:
To see the version of this page in English, see GAO-22-105411.
Information Technology: Education Needs to Address Student Aid Modernization Weaknesses
GAO-23-105333
Published:
Publicly Released:
The Department of Education's Next Gen program—started in 2017—aims to modernize the Office of Federal Student Aid's technology and operations to improve the experiences of students, parents, and its partners. FSA has 4 of 9 modernization projects remaining—all of which have had delays. And 3 of the 4 don't have set implementation dates—limiting FSA's ability to retire 2 older systems. In addition, FSA's total reported...
FEMA Workforce: Additional Actions Needed to Help Prevent and Respond to Discrimination and Harassment
GAO-23-105243
Published:
Publicly Released:
A report, based on a 2019 survey, estimated that 29% of FEMA employees experienced workplace discrimination or harassment in the prior year. FEMA has been taking action to address this. FEMA's efforts incorporated many but not all of the practices recommended by the Equal Employment Opportunity Commission. For example, FEMA provides annual mandatory anti-harassment training to employees, but the training doesn't fully explain how to...
Persistent Chemicals: EPA Should Use New Data to Analyze the Demographics of Communities with PFAS in Their Drinking Water
GAO-22-105135
Published:
Publicly Released: PFAS (per- and polyfluoroalkyl substances) are a group of chemicals used in numerous consumer products—such as nonstick cookware. Most people in the U.S. have been exposed to PFAS, which can be harmful to humans at certain levels. The EPA plans to regulate PFAS in drinking water in 2023. However, it doesn't currently have nationwide information about the demographic characteristics of communities with PFAS in their...
Maternal Health: Availability of Hospital-Based Obstetric Care in Rural Areas
GAO-23-105515
Published:
Publicly Released:
The number of hospitals providing obstetric services in rural areas has declined since 2014. Over half of rural counties didn't have a hospital that provided these services, as of 2018. This is particularly prevalent in low-income areas, and is associated with problems such as premature births. Experts and other stakeholders said it is difficult for hospitals in rural areas to recruit and retain maternal health...
Maternal Health: Outcomes Worsened and Disparities Persisted During the Pandemic
GAO-23-105871
Published:
Publicly Released:
Hundreds of women in the U.S. die each year from complications related to pregnancy and childbirth. Pregnant women with COVID-19 are more likely to experience complications. We analyzed CDC data and found: Maternal deaths increased during the pandemic compared to 2018 and 2019 COVID-19 contributed to 25% of maternal deaths in 2020 and 2021 The maternal death rate for Black or African-American women was disproportionally...
Immigration Detention: ICE Needs to Strengthen Oversight of Informed Consent for Medical Care
GAO-23-105196
Published:
Publicly Released:
ICE oversees—and in some cases provides—medical care for people detained in its facilities. Some care is provided onsite and some must be provided offsite, such as at a hospital. ICE must obtain documentation of "informed consent" from people receiving onsite care. Informed consent involves the medical provider speaking to the person in detail about treatment risks, benefits, and alternatives. Medical files that we reviewed generally...
Southwest Border: Challenges and Efforts Implementing New Processes for Noncitizen Families
GAO-22-105456
Published:
Publicly Released:
Border Patrol encountered 1.7 million noncitizens between ports of entry in FY 2021, a 300% increase over FY 2020. To help deal with this increase, Border Patrol created two processes to release families (parents and children under 18) into the U.S. without initiating immigration removal proceedings. This reduced their time in Border Patrol custody. Border Patrol told the families to report to Immigration and Customs...
IASB
October 2022 Due Process Oversight Committee agenda and meeting papers available
Meeting
24 Oct 2022
Addendum to the September 2022 IFRIC Update now available
Update
24 Oct 2022
IASB adds narrow-scope project to work plan on possible amendments to financial instruments Accounting Standard
Update
24 Oct 2022
October 2022 IASB Update now available and work plan updated
Update
24 Oct 2022
Join the staff—Facilities Team Leader
Careers
21 Oct 2022
Q3 2022 IFRS Interpretations Committee podcast now available
Podcast
21 Oct 2022
ISSB unanimously confirms Scope 3 GHG emissions disclosure requirements with strong application support, among key decisions
Announcement
21 Oct 2022
Join the staff—Chief People Officer
Careers
19 Oct 2022
Join the staff—Payroll Coordinator
Careers
19 Oct 2022
G20 looks forward to ISSB’s finalised standards
Standard
18 Oct 2022
IRS
401(k) limit increases to $22,500 for 2023, IRA limit rises to $6,500
IR-2022-188, October 21, 2022 — The IRS announced today that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500, up from $20,500 for 2022. The IRS today also issued technical guidance regarding all of the cost of living adjustments
During National Cybersecurity Month, IRS and Security Summit Partners offer tips
IR-2022-187, October 21, 2022 — The Internal Revenue Service and its Security Summit partners today urged families to remain vigilant year-round and consider taking additional steps to protect their personal information during National Cybersecurity Month.
Adjust tax withholding now to pay the proper amount of tax
IR-2022-186, October 20, 2022 — The Internal Revenue Service today urged taxpayers to check their tax withholding while there’s time left in 2022 to benefit from any necessary changes.
IRS: Deadline to file 2019 and 2020 tax returns to get COVID penalty relief postponed in declared disaster areas
IR-2022-185, October 19, 2022 — The Internal Revenue Service reminds taxpayers in areas covered by certain Federal Emergency Management Agency (FEMA) disaster declarations they may have more time to file their returns to qualify for the penalty relief under Notice 2022-36 for their 2019 and 2020 tax returns.
Employers urged to electronically file payroll tax returns by Oct. 31
IR-2022-184, October 19, 2022 — The Internal Revenue Service today reminded employers to file the next quarterly payroll tax return by the approaching October 31, 2022, due date, and urged them to do so electronically.
Employers warned to beware of third parties promoting improper Employee Retention Credit claims
IR-2022-183, October 19, 2022 — The Internal Revenue Service today warned employers to be wary of third parties who are advising them to claim the Employee Retention Credit (ERC) when they may not qualify. Some third parties are taking improper positions related to taxpayer eligibility for and computation of the credit.
IRS provides tax inflation adjustments for tax year 2023
IR-2022-182, October 18, 2022 — The Internal Revenue Service today announced the tax year 2023 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Revenue Procedure 2022-38 provides details about these annual adjustments.
Grandparents and other relatives with eligible dependents can qualify for 2021 Child Tax Credit
IR-2022-181, October 17, 2022 — The Internal Revenue Service reminded families today that some taxpayers who claim at least one child as their dependent on their tax return may not realize they could be eligible to benefit from the Child Tax Credit (CTC).
PCAOB
James McNamara Named the PCAOB’s First Chief Operating Officer
Oct. 24, 2022
Barbara Vanich Named PCAOB Chief Auditor
Oct. 21, 2022
PCAOB Chair Williams Delivers Remarks at PCAOB Conference on Auditing and Capital Markets
Oct. 20, 2022
PCAOB Sanctions Three Firms for Failing to Disclose Unregistered Firm Participation in Public Company Audits
Oct. 19, 2022
PCAOB Imposes Highest Individual Penalty Ever and Bars Audit Partner for Misleading Inspectors and Investigators
Oct. 18, 2022
SEC
SEC Names Jason J. Burt as Regional Director of the Denver Office
2022-190, Oct. 24, 2022 — The Securities and Exchange Commission today announced that Jason J. Burt has been named Regional Director of the Denver Office, where he has served as Acting Co-Director since July.
SEC Charges Mattel with Financial Misstatements and Former PwC Audit Partner with Improper Professional Conduct
2022-189, Oct. 21, 2022 — The Securities and Exchange Commission today announced that California-based Mattel Inc. has agreed to pay $3.5 million to settle charges relating to misstatements in its third and fourth quarter 2017 financial statements. Separately, the SEC is initiating litigation against Joshua Abrahams, a former audit partner at PricewaterhouseCoopers LLP, or PwC, to determine whether he engaged in improper professional conduct and violated auditor independence rules.