[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1732 Introduced in House (IH)]







107th CONGRESS
  1st Session
                                H. R. 1732

To require the Securities and Exchange Commission to review the annual 
            reports of accounting standards-setting bodies.


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                    IN THE HOUSE OF REPRESENTATIVES

                              May 3, 2001

 Mr. Sherman introduced the following bill; which was referred to the 
                    Committee on Financial Services

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                                 A BILL


 
To require the Securities and Exchange Commission to review the annual 
            reports of accounting standards-setting bodies.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. REVIEW OF ANNUAL REPORTS REQUIRED.

    The Securities and Exchange Commission shall annually review the 
annual reports of any independent accounting standards-setting entity 
on whose standards issuers of securities and other regulated persons 
are permitted to rely for purposes of complying with generally accepted 
accounting principles in the preparation of periodic reports and other 
statements required to be submitted under the Federal securities laws.
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