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Regulatory Roundup: February 22-27

S.J. Steinhardt
Published Date:
Feb 27, 2023


New Partnership Between AICPA & CIMA and University of Oxford’s Saïd Business School Will Help Improve Sustainable Accounting Across the World
Feb 21, 2023


Cost Estimate
Legislation considered under suspension of the Rules of the House of Representatives during the week of February 27, 2023
February 22, 2023
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.

The Navy’s 2023 Shipbuilding Plan and the Future of Expeditionary Warfare Operations
February 22, 2023
Presentation by Eric J. Labs, an analyst in CBO’s National Security Division, at the National Defense Industrial Association’s 25th Annual Expeditionary Warfare Conference.

The Congressional Budget Office’s Request for Appropriations for Fiscal Year 2024
February 21, 2023
For fiscal year 2024, CBO is requesting an appropriation of $70.8 million, up from the $63.2 million that it received for 2023. The request reflects strong interest in CBO’s work from Congressional leadership, committees, and Members.

The Economic Outlook for 2023 to 2033 in 16 Charts
February 21, 2023
CBO summarizes in graphic form its projections of what the economy would look like this year and over the next decade if current laws governing federal taxes and spending generally remained in place.


Financial Accounting Foundation Debuts Enhanced Free Access to Online Accounting Standards Codification® and Governmental Accounting Research System™
February 27, 2023


Financial Accounting Foundation Debuts Enhanced Free Access to Online Accounting Standards Codification® and Governmental Accounting Research System™
February 27, 2023


Subminimum Wage Program:
DOL Could Do More to Ensure Timely Oversight

Published: Jan 25, 2023
Publicly Released: Feb 24, 2023
Employers that hold a special certificate from the Department of Labor can pay people with disabilities wages below the federal minimum wage. We found that about 120,000 workers were employed under these certificates, with half earning less than $3.50 an hour. DOL oversees the certificate program, in part, by reviewing employers' applications and ensuring that they pay workers the correct wages. However, DOL has no...

VA Health Care:
VHA Lacks Reliable Onboarding Data for New Clinical Staff

Published: Jan 25, 2023
Publicly Released: Feb 24, 2023
The Veterans Health Administration provides health care services for more than 9 million veterans. During the COVID-19 pandemic, VHA found itself short-handed and needed to hire more clinical staff—such as doctors and nurses—quickly. VHA modified its hiring practices to allow new clinical staff to start work before finishing some time-consuming tasks like fingerprint checks and physical exams. But VHA's main hiring system doesn't accurately track...

Veterans Health Administration:
Action Needed to Address Persistent Control Weaknesses and Related Risks in Employee Screening Processes

Published: Feb 23, 2023
Publicly Released: Feb 23, 2023
The Veterans Health Administration provides health care to over 9 million veterans. It is responsible for ensuring that its providers are qualified, competent, and suitable to provide care. The Drug Enforcement Administration requires VHA medical centers to get a waiver before employing anyone with a controlled substance-related felony conviction whose job gives them access to such substances. But VHA doesn't have a waiver policy and...

EPA Chemical Reviews:
Workforce Planning Gaps Contributed to Missed Deadlines

Published: Feb 17, 2023
Publicly Released: Feb 23, 2023
In 2016, Congress set deadlines for the Environmental Protection Agency to review health and environmental impacts of certain chemicals already in use, starting initially with 10 chemicals. It also required EPA to determine the safety of certain new chemicals before they can be manufactured. We found that EPA: Missed most deadlines for reviews of existing chemicals since 2016 Typically met the deadline less than 10%...

K-12 Education:
New Charter Schools Receiving Grants to Open Grew Faster Than Peers

Published: Feb 21, 2023
Publicly Released: Feb 21, 2023
Charter schools are publicly-funded schools that are governed by independent organizations. The Department of Education awards "Charter Schools Program" grants to help open or expand charter schools across the nation. We reviewed charter schools that received funds from these grants between 2006-2020. The schools generally had higher student enrollment growth compared to similar charter schools that did not receive a grant. We also found that...


Financial Accounting Foundation Debuts Enhanced Free Access to Online Accounting Standards Codification® and Governmental Accounting Research System™
February 27, 2023


February 2023 IASB Update and podcast now available
27 Feb 2023

March 2023 Capital Markets Advisory Committee agenda and meeting papers available
24 Feb 2023

March 2023 Due Process Oversight Committee agenda and meeting papers available
24 Feb 2023

Register for the Japan Financial Services Agency's International Conference on Sustainability Disclosure
22 Feb 2023

February 2023 ISSB Update and podcast now available
22 Feb 2023


IRS: May 15 tax deadline extended to Oct. 16 for disaster area taxpayers in California, Alabama and Georgia
IR-2023-33, Feb. 24, 2023 — Disaster-area taxpayers in most of California and parts of Alabama and Georgia now have until Oct. 16, 2023, to file various federal individual and business tax returns and make tax payments, the Internal Revenue Service announced today. Previously, the deadline had been postponed to May 15 for these areas.

Tax Time Guide: Things to consider when filing a 2022 tax return
IR-2023-32, Feb. 22, 2023 — With the 2023 tax filing season in full swing, the IRS reminds taxpayers to gather their necessary information and visit for updated resources and tools to help with their 2022 tax return.

IRS and Treasury issue final regulations on e-file for businesses
IR-2023-31, Feb. 21, 2023 — The Department of the Treasury and the IRS today issued final regulations amending the rules for filing returns and other documents electronically (e-file). These regulations will require certain filers to e-file beginning in 2024.


Superintendent Harris Announces Request for Public Engagement on Pharmacy Benefit Managers At the Department Looks to Develop Regulations  
February 23, 2023

Statewide Crackdown Nets Multiple Arrests and Jail Time for Bad Tax Preparers 
February 21, 2023


SEC Investor Advisory Committee to Discuss the Growth of Private Markets, Oversight of Investment Advisers, and Open-End Fund Liquidity Risk Management at March 2nd Meeting
2023-39, Feb. 24, 2023 — The Securities and Exchange Commission’s Investor Advisory Committee will hold a virtual public meeting on March 2 at 10:00 a.m. ET. The meeting will be webcast on the SEC website.

SEC Charges Cousins for Insider Trading in Kodak Stock Ahead of Company’s Planned Govt. Partnership to Assist in Response to COVID-19
2023-38, Feb. 23, 2023 — The Securities and Exchange Commission today charged Andrew Stiles for insider trading in the stocks of Eastman Kodak Company and Novavax Inc. based on nonpublic information related to both companies’ planned government partnerships to assist in the fight against COVID-19 at the height of the pandemic. The SEC also charged Andrew Stiles’ cousin, Gray Stiles, of Richmond, Virginia, for insider trading in Kodak stock that netted the two more than $1.5 million in illegal profits.

SEC Charges Ozy Media and its CEO Carlos Watson with Widespread Scheme to Defraud Investors
2023-37, Feb. 23, 2023 — The Securities and Exchange Commission today charged media and entertainment company Ozy Media Inc., its CEO Carlos R. Watson, Jr., its former COO Samir Rao, and its former Chief of Staff Suzee Han with defrauding investors of approximately $50 million through repeated misrepresentations concerning the company’s basic financial condition, business relationships, and fundraising efforts. Rao and Han have agreed to resolve the charges against them.

SEC Charges African Gold Acquisition Corp. with Internal Controls, Reporting, and Recordkeeping Failures
2023-36, Feb. 22, 2023 — The Securities and Exchange Commission today announced settled charges against African Gold Acquisition Corp., a publicly traded special purpose acquisition company (SPAC), for internal controls, reporting, and recordkeeping violations. These failures enabled African Gold’s former chief financial officer to misappropriate approximately $1.2 million from the company’s operating bank account. As a result, African Gold made materially false filings with the Commission and maintained inaccurate books and records.


Improvements to the Employment Tax Examination Process Are Needed to Increase Taxpayer Compliance and Collection Potential
February 13, 2023

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