Audit Integrity and Job Protection Act

3.0.0 1564 2023-01-11T13:24:36Z 2023-01-11T13:24:36Z House H HR 2013-04-15 113 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. HURT:H.R. 1564.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 3.[Page H2026]]]> ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2013-07-09T18:51:05Z hsba00 Financial Services Committee House Standing hsba16 Capital Markets Subcommittee Hearings by 2013-05-23T13:26:49Z Reported by 2013-07-08T21:40:14Z Markup by 2013-06-19T20:51:11Z Referred to 2013-04-15T16:02:10Z H. Rept. 113-142 Audit Integrity and Job Protection Act 113 1526 S 2013-09-19 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. Related bill CRS 2013-07-09 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2013-07-08 19:03:02 Motion to reconsider laid on the table Agreed to without objection. Floor H38310 2 House floor actions 2013-07-08 19:03:01 On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 321 - 62 (Roll no. 306). (text: CR H4182) Floor H37300 2 House floor actions 306 https://clerk.house.gov/evs/2013/roll306.xml House 113 2013-07-08T23:03:01Z 1 2013-07-08 19:03:01 Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 321 - 62 (Roll no. 306).(text: CR H4182) Floor 8000 9 Library of Congress 306 https://clerk.house.gov/evs/2013/roll306.xml House 113 2013-07-08T23:03:01Z 1 2013-07-08 18:56:01 Considered as unfinished business. (consideration: CR H4186-4187) Floor H30000 2 House floor actions 2013-07-08 17:57:49 At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed. Floor H37220 2 House floor actions 2013-07-08 17:40:58 DEBATE - The House proceeded with forty minutes of debate on H.R. 1564. Floor H8D000 2 House floor actions 2013-07-08 17:40:56 Considered under suspension of the rules. (consideration: CR H4182-4184) Floor H30000 2 House floor actions 2013-07-08 17:40:33 Mr. Hurt moved to suspend the rules and pass the bill, as amended. Floor H30300 2 House floor actions 2013-07-08 Placed on the Union Calendar, Calendar No. 103. Calendars H12410 2 House floor actions U00103 2013-07-08 Reported (Amended) by the Committee on Financial Services. H. Rept. 113-142. Committee H12200 2 House floor actions hsba00 Financial Services Committee 2013-07-08 Reported (Amended) by the Committee on Financial Services. H. Rept. 113-142. Committee 5000 9 Library of Congress hsba00 Financial Services Committee 2013-06-19 hsba00 Financial Services Committee 1 House committee actions Ordered to be Reported (Amended) by the Yeas and Nays: 52 - 0. Committee 2013-06-19 hsba00 Financial Services Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2013-05-23 hsba16 Capital Markets Subcommittee 1 House committee actions Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral. Committee 2013-04-15 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2013-04-15 Introduced in House IntroReferral Intro-H 9 Library of Congress 2013-04-15 Introduced in House IntroReferral 1000 9 Library of Congress H001060 Rep. Hurt, Robert [R-VA-5] Robert Hurt R VA 5 N M001137 Rep. Meeks, Gregory W. [D-NY-5] GREGORY MEEKS D NY W. 5 2013-04-15 True H001058 Rep. Huizenga, Bill [R-MI-2] Bill Huizenga R MI 2 2013-07-08 False R000487 Rep. Royce, Edward R. [R-CA-39] ED ROYCE R CA 39 2013-07-08 False R000593 Rep. Ross, Dennis A. [R-FL-15] Dennis Ross R FL A. 15 2013-07-08 False M001182 Rep. Mulvaney, Mick [R-SC-5] Mick Mulvaney R SC 5 2013-07-08 False B000013 Rep. Bachus, Spencer [R-AL-6] SPENCER BACHUS R AL 6 2013-07-08 False S001187 Rep. Stivers, Steve [R-OH-15] Steve Stivers R OH 15 2013-07-08 False G000548 Rep. Garrett, Scott [R-NJ-5] Scott Garrett R NJ 5 2013-07-08 False L000569 Rep. Luetkemeyer, Blaine [R-MO-3] Blaine Luetkemeyer R MO 3 2013-07-08 False M001191 Rep. Murphy, Patrick [D-FL-18] Patrick Murphy D FL 18 2013-07-08 False M001160 Rep. Moore, Gwen [D-WI-4] Gwen Moore D WI 4 2013-07-08 False S001157 Rep. Scott, David [D-GA-13] David Scott D GA 13 2013-07-08 False P000595 Rep. Peters, Gary C. [D-MI-14] Gary Peters D MI 14 2013-07-08 False Finance and Financial Sector Accounting and auditing Administrative law and regulatory procedures Congressional oversight Corporate finance and management Financial services and investments Government corporations and government-sponsored enterprises Government studies and investigations Securities Finance and Financial Sector

00 2013-04-15 Introduced in House 2013-05-10T21:20:19Z Audit Integrity and Job Protection Act - Amends the Sarbanes-Oxley Act of 2002 (SOX) to deny the Public Company Accounting Oversight Board any authority to require that audits conducted for a particular issuer of securities in accordance with SOX standards be conducted by specific auditors, or that such audits be conducted for an issuer by different auditors on a rotating basis.

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36 2013-07-08 Passed House amended 2013-08-27T21:29:55Z Audit Integrity and Job Protection Act - Amends the Sarbanes-Oxley Act of 2002 (SOX) to deny the Public Company Accounting Oversight Board any authority to require that audits conducted for a particular issuer of securities in accordance with SOX standards be conducted by specific registered public accounting firms, or that such audits be conducted for an issuer by different registered public accounting firms on a rotating basis.

Directs the Comptroller General (GAO) to update the November 2003 report, "Study on the Potential Effects of Mandatory Audit Firm Rotation," and review the potential effects (including costs and benefits) of requiring the mandatory rotation of registered public accounting firms.

Requires such update also to study: (1) whether mandatory rotation of registered public accounting firms would mitigate against potential conflicts of interest between registered public accounting firms and issuers; (2) whether such a mandatory rotation would impair audit quality due to the loss of industry or company-specific knowledge gained by a registered public accounting firm through years of experience auditing the issuer; and (3) what effect SOX has had upon registered public accounting firms' independence, and whether additional independence reforms are needed.

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Audit Integrity and Job Protection Act Display Title Audit Integrity and Job Protection Act Short Titles as Introduced Audit Integrity and Job Protection Act Short Titles as Reported to House Audit Integrity and Job Protection Act H House Short Titles as Passed House Audit Integrity and Job Protection Act H House Official Title as Introduced To amend the Sarbanes-Oxley Act of 2002 to prohibit the Public Company Accounting Oversight Board from requiring public companies to use specific auditors or require the use of different auditors on a rotating basis. Referred in Senate 2013-07-09T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr1564rfs/xml/BILLS-113hr1564rfs.xml Reported in House 2013-07-08T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr1564rh/xml/BILLS-113hr1564rh.xml Engrossed in House 2013-07-08T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr1564eh/xml/BILLS-113hr1564eh.xml Introduced in House 2013-04-15T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113hr1564ih/xml/BILLS-113hr1564ih.xml 2013-07-09 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. 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.