Bill
Bill > HR2606
US HR2606
US HR2606To require auditor independence standards of the Public Company Accounting Oversight Board and the Securities and Exchange Commission applicable to past audits of a company occurring before it was a public company to treat an auditor as independent if the auditor meets established professional standards, and for other purposes.
summary
Introduced
04/13/2023
04/13/2023
In Committee
04/13/2023
04/13/2023
Crossed Over
Passed
Dead
01/03/2025
01/03/2025
Introduced Session
118th Congress
Bill Summary
A BILL To require auditor independence standards of the Public Company Accounting Oversight Board and the Securities and Exchange Commission applicable to past audits of a company occurring before it was a public company to treat an auditor as independent if the auditor meets established professional standards, and for other purposes.
AI Summary
This bill requires the Public Company Accounting Oversight Board (PCAOB) and the Securities and Exchange Commission (SEC) to treat an auditor as independent for past audits of a company that occurred before it became a public company, if the auditor meets the established professional standards applicable to certified public accountants in the United States or, for foreign issuers, the comparable standards in the issuer's home country. This aims to provide more flexibility in determining auditor independence for past audits before a company went public.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Referred to the House Committee on Financial Services. (on 04/13/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/118th-congress/house-bill/2606/all-info |
| BillText | https://www.congress.gov/118/bills/hr2606/BILLS-118hr2606ih.pdf |
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