3.0.0 1780 2023-01-11T19:49:51Z 2023-01-11T19:49:51Z House H HR 2007-03-29 110 hsba00 Financial Services Committee House Standing Referred to 2007-03-29T14:14:35Z 2007-03-30 Sponsor introductory remarks on measure. (CR E701) IntroReferral B00100 9 Library of Congress 2007-03-29 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2007-03-29 Introduced in House IntroReferral Intro-H 9 Library of Congress 2007-03-29 Introduced in House IntroReferral 1000 9 Library of Congress K000360 Rep. Kirk, Mark Steven [R-IL-10] MARK KIRK R IL STEVEN 10 N I000057 Rep. Israel, Steve [D-NY-2] STEVE ISRAEL D NY 2 2007-03-29 True S000244 Rep. Sensenbrenner, F. James, Jr. [R-WI-5] F. SENSENBRENNER R WI JAMES 5 2007-03-29 True R000141 Rep. Regula, Ralph [R-OH-16] RALPH REGULA R OH S. 16 2007-03-29 True F000447 Rep. Feeney, Tom [R-FL-24] Tom Feeney R FL 24 2007-06-11 False G000548 Rep. Garrett, Scott [R-NJ-5] Scott Garrett R NJ 5 2007-06-14 False Finance and Financial Sector Administrative procedure Auditing Commerce Corporate accountability Corporate management Corporation directors Financial statements Government Operations and Politics Independent regulatory commissions Information disclosure (Securities law) Law Risk Securities and Exchange Commission Securities regulation Small business Finance and Financial Sector 00 2007-03-29 Introduced in House 2007-05-01T19:52:11Z Small Business Securities Protection Act - Amends the Sarbanes-Oxley Act of 2002 to instruct the Securities and Exchange Commission to prescribe rules that incorporate risk-based concepts in evaluating internal control over financial reporting for issuers.

Requires such rules also to incorporate: (1) specific guidelines for measuring the terms "material," "reasonable," "significant," and "sufficient" in the context of internal control over financial reporting; (2) a requirement that the Public Company Accounting Oversight Board consider the efficiency of audit practices in its inspections; (3) alternative requirements for smaller issuers that reflect the relative size and complexity of smaller issuers, and the relative financial and manpower burdens placed on them in testing and documenting internal controls; and (4) revised standards for independence by auditors to permit the rendering of internal control advice for resolution of internal control issues and related liability safe harbors for auditors providing such advice to smaller issuers.

]]> Small Business Securities Protection Act Official Title as Introduced To improve the implementation of section 404 of the Sarbanes-Oxley Act of 2002. Introduced in House IH Display Title Small Business Securities Protection Act Short Titles as Introduced Small Business Securities Protection Act Introduced in House 2007-03-29T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110hr1780ih/xml/BILLS-110hr1780ih.xml 2007-03-30 Sponsor introductory remarks on measure. (CR E701) text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.