109 HR 1641 IH: Competitiveness Enhancement and Opportunity Act of 2005 U.S. House of Representatives 2005-04-14 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.

I 109th CONGRESS 1st Session H. R. 1641 IN THE HOUSE OF REPRESENTATIVES April 14, 2005 Mr. Flake introduced the following bill; which was referred to the Committee on Financial Services A BILL To make the internal control requirements of the Sarbanes-Oxley Act of 2002 voluntary.

1.

Short title

This Act may be cited as the Competitiveness Enhancement and Opportunity Act of 2005.

2.

Management assessment of internal controls voluntary

Section 404 of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7262) is amended— (1)in subsection (a)— (A)by striking requiring each annual report and inserting permitting each annual report; and (B)by striking which shall— and inserting which, if containing such internal control report, shall—; and (2) in subsection (b)— (A)by striking shall attest and inserting may attest; and (B)by striking attestation made and inserting attestation if made.