Trusted Foreign Auditing Act of 2023

3.0.0 3494 2025-12-05T09:04:18Z 2025-12-05T09:04:18Z Senate S S 2023-12-13 118 https://www.congress.gov/bill/118th-congress/senate-bill/3494 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred To 2023-12-13T19:37:09Z Trusted Foreign Auditing Act of 2023 118 6769 HR 2023-12-13 Referred to the House Committee on Financial Services. Identical bill CRS 2023-12-13 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2023-12-13 Introduced in Senate IntroReferral 10000 9 Library of Congress R000595 Sen. Rubio, Marco [R-FL] Marco Rubio R FL N S001217 Sen. Scott, Rick [R-FL] Rick Scott R FL 2023-12-13 True H000601 Sen. Hagerty, Bill [R-TN] Bill Hagerty R TN 2023-12-13 True D000618 Sen. Daines, Steve [R-MT] Steve Daines R MT 2024-01-09 False Finance and Financial Sector Finance and Financial Sector 2024-01-19T17:00:27Z

00 2023-12-13 Introduced in Senate 2024-08-01T15:49:56Z Trusted Foreign Auditing Act of 2023This bill expands a securities trading prohibition currently applicable to companies that use a foreign public accounting firm not subject to inspections by the Public Company Accounting Oversight Board. Under the bill, a company’s securities are prohibited from trade on a national securities exchange or through any other method regulated by the Securities and Exchange Commission if a company that is headquartered in a country of concern retains a compromised auditor to prepare an audit report. The bill defines a country of concern as North Korea, China, Russia, Iran, or a country identified as a threat to U.S. security in an annual report by the Office of the Director of National Intelligence. The bill defines a compromised auditor as an independent branch or office of a registered public accounting firm that is subject to the jurisdiction and laws of a country of concern, is controlled or influenced by a country of concern, or has entered into a particular type of relationship with a country of concern.Further, board hearings to investigate and discipline registered public accounting firms must be public if a compromised auditor is a party to the hearing.

Trusted Foreign Auditing Act of 2023 Display Title 45 Trusted Foreign Auditing Act of 2023 2024-07-24T15:19:37Z Short Title(s) as Introduced 101 Trusted Foreign Auditing Act of 2023 2024-05-24T13:34:58Z Introduced in Senate IS Official Title as Introduced 6 A bill to amend the Sarbanes-Oxley Act of 2002 to provide for disclosure regarding foreign jurisdictions that hinder inspections, and for other purposes. 2024-01-05T01:59:05Z Introduced in Senate IS Introduced in Senate 2023-12-13T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118s3494is/xml/BILLS-118s3494is.xml 2023-12-13 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.