,,ib  ,union ,calendar ,no4 #ajc  #aacth
 ,,congress  #ast ,session  ,h4 ,r4     
#aefd  ,report ,no4 #aac-adb  ,,in ,,the
 ,,house ,,of ,,representatives  ,april 
#ae1 #bjac ,mr4 ,hurt 7for himself and  
,mr4 ,meeks7 introduced the following   
bill2 which was referred to the         
,committee on ,financial ,services      
,july #h1 #bjac ,additional sponsors3   
,mr4 ,huizenga of ,michigan1 ,mr4       
,royce1 ,mr4 ,ross1 ,mr4 ,mulvaney1 ,mr4
 ,bachus1 ,mr4 ,stivers1 ,mr4 ,garrett1 
,mr4 ,luetkemeyer1 ,mr4 ,murphy of      
,florida1 ,ms4 ,moore1 ,mr4 ,david      
,scott of ,georgia1 and ,mr4 ,peters of 
,michigan  ,july #h1 #bjac ,reported    
with an amendment1 committed to the     
,committee of the ,whole ,house on the  
,state of the ,union1 and ordered to be 
printed ,strike out all after the       
enacting clause and insert the part     
printed in italic  ,a ,,bill  ,to amend 
the ,sarbanes-,oxley ,act of #bjjb 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 basis4 
#a4 ,short title ,this ,act may be cited
 as the ,audit ,integrity and ,job      
,protection ,act4  #b4 ,limitation on   
authority relating to auditors ,section 
#ajc of the ,sarbanes-,oxley ,act of    
#bjjb 7#ae ,u4,s4,c4 #gbac7 is amended  
by adding at the end the following3  7e7
 ,limitation on authority ,the ,board   
shall have no authority under this title
 to require that audits conducted for a 
particular issuer in accordance with the
 standards set forth under this section 
be conducted by specific auditors1 or   
that such audits be conducted for an    
issuer by different auditors on a       
rotating basis4  4  #a4 ,short title    
,this ,act may be cited as the ,audit   
,integrity and ,job ,protection ,act4   
#b4 ,limitation on authority relating to
 auditors ,section #ajc of the          
,sarbanes-,oxley ,act of #bjjb 7#ae     
,u4,s4,c4 #gbac7 is amended by adding at

 the end the following3  7e7 ,limitation
 on authority ,the ,board shall have no 
authority under this title to require   
that audits conducted for a particular  
issuer in accordance with the standards 
set forth under this section be         
conducted by specific auditors1 or that 
such audits be conducted for an issuer  
by different auditors on a rotating     
basis4  4  #c4 ,study of mandatory      
rotation of registered public accounting
 firms  7a7 ,study and ,review ,required
 ,the ,comptroller ,general of the      
,united ,states shall update its        
,november #bjjc report entitled ,study  
on the ,potential ,effects of ,mandatory
 ,audit ,firm ,rotation1 and review the 
potential effects1 including the costs  
and benefits1 of requiring the mandatory
 rotation of registered public          
accounting firms4 ,in addition1 the     
update shall include a study of--  7#a7 
whether mandatory rotation of registered
 public accounting firms would mitigate 
against potential conflicts of interest 

between public accounting firms and     
issuers2  7#b7 whether mandatory        
rotation of registered public accounting
 firms would impair audit quality due to
 the loss of loss of industry or        
company-specific knowledge gained by a  
public accounting firm through years of 
experience auditing the issuer2 and     
7#c7 what affect the ,sarbanes-,oxley   
,act of #bjjb has had on registered     
public accounting firms' independence   
and whether additional independence     
reforms are needed4  7b7 ,report        
,required ,not later than #a year after 
the date of enactment of this ,act1 the 
,comptroller ,general shall submit a    
report to the ,committee on ,banking1   
,housing1 and ,urban ,affairs of the    
,senate and the ,committee on ,financial
 ,services of the ,house of             
,representatives on the results of the  
study and review required by this       
section4  7c7 ,definition ,for purposes 
of this section1 the term mandatory     
rotation refers to the imposition of a  

limit on the period of years in which a 
particular registered public accounting 
firm may be the auditor of record for a 
particular issuer4  ,july #h1 #bjac     
,reported with an amendment1 committed  
to the ,committee of the ,whole ,house  
on the ,state of the ,union1 and ordered
 to be printed