Bill > HR6769

This bill amends the Sarbanes-Oxley Act of 2002 to provide for disclosure regarding foreign jurisdictions that hinder inspections of registered public accounting firms. The key provisions are: 1. It defines the term "compromised auditor" as an independent branch or office of a registered public accounting firm that is subject to the jurisdiction and laws of, or controlled or influenced by, a "covered country" (a country identified as a threat to U.S. national security). 2. It requires the Public Company Accounting Oversight Board to prohibit the trading of securities of a "covered issuer" (a company headquartered in a country of concern) that retains a compromised auditor to prepare an audit report. 3. It requires public hearings when a compromised auditor retained by a covered issuer is a party to the hearing or the Board orders a public hearing for good cause with the consent of the parties. The purpose of this bill is to enhance transparency and oversight of foreign auditing firms that may be compromised by their ties to countries deemed threats to U.S. national security.