,,ib  ,union ,cal5d> ,no4 #ajc  #aac?   
,,congress  #a/ ,session  ,h4 ,r4 #aefd 
,report ,no4 #aac-adb  ,,9 ,,! ,,h\se   
,,( ,,repres5tatives  ,april #ae1 #bjac 
,mr4 ,hurt 7= himself & ,mr4 ,meeks7    
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,f9ancial ,s]vices     
,july #h1 #bjac ,additional sponsors3   
,mr4 ,huiz5ga ( ,mi*igan1 ,mr4 ,royce1  
,mr4 ,ross1 ,mr4 ,mulvaney1 ,mr4 ,ba*us1
 ,mr4 ,/iv]s1 ,mr4 ,g>rett1 ,mr4        
,luetkemey]1 ,mr4 ,murphy ( ,florida1   
,ms4 ,moore1 ,mr4 ,david ,scott (       
,georgia1 & ,mr4 ,pet]s ( ,mi*igan      
,july #h1 #bjac ,report$ ) an am5dm5t1  
committ$ to ! ,committee ( ! ,:ole ,h\se
 on ! ,/ate ( ! ,union1 & ord]$ to be   
pr9t$ ,/rike out all aft] ! enact+      
clause & ins]t ! "p pr9t$ 9 italic  ,a  
,,bill  ,to am5d ! ,s>banes-,oxley ,act 
( #bjjb to prohibit ! ,public ,company  
,acc\nt+ ,ov]sight ,bo>d f requir+      
public companies to use specific        
auditors or require ! use ( diff]5t     
auditors on a rotat+ basis4  #a4 ,%ort  

title ,?is ,act may be cit$ z ! ,audit  
,integrity & ,job ,protection ,act4  #b4
 ,limitation on au?ority relat+ to      
auditors ,section #ajc ( !              
,s>banes-,oxley ,act ( #bjjb 7#ae       
,u4,s4,c4 #gbac7 is am5d$ by add+ at !  
end ! foll[+3  7e7 ,limitation on       
au?ority ,! ,bo>d %all h no au?ority "u 
?is title to require t audits conduct$ =
 a p>ticul> issu] 9 accordance ) ! /&>ds
 set =? "u ?is section be conduct$ by   
specific auditors1 or t su* audits be   
conduct$ = an issu] by diff]5t auditors 
on a rotat+ basis4  4  #a4 ,%ort title  
,?is ,act may be cit$ z ! ,audit        
,integrity & ,job ,protection ,act4  #b4
 ,limitation on au?ority relat+ to      
auditors ,section #ajc ( !              
,s>banes-,oxley ,act ( #bjjb 7#ae       
,u4,s4,c4 #gbac7 is am5d$ by add+ at !  
end ! foll[+3  7e7 ,limitation on       
au?ority ,! ,bo>d %all h no au?ority "u 
?is title to require t audits conduct$ =
 a p>ticul> issu] 9 accordance ) ! /&>ds
 set =? "u ?is section be conduct$ by   

specific auditors1 or t su* audits be   
conduct$ = an issu] by diff]5t auditors 
on a rotat+ basis4  4  #c4 ,/udy (      
m&atory rotation ( regi/]$ public       
acc\nt+ firms  7a7 ,/udy & ,review      
,requir$ ,! ,comptroll] ,g5]al ( !      
,unit$ ,/ates %all update its ,novemb]  
#bjjc report entitl$ ,/udy on !         
,pot5tial ,effects ( ,m&atory ,audit    
,firm ,rotation1 & review ! pot5tial    
effects1 includ+ ! co/s & b5efits1 (    
requir+ ! m&atory rotation ( regi/]$    
public acc\nt+ firms4 ,9 addition1 !    
update %all include a /udy (--  7#a7    
:e!r m&atory rotation ( regi/]$ public  
acc\nt+ firms w\ld mitigate aga9/       
pot5tial conflicts ( int]e/ betwe5      
public acc\nt+ firms & issu]s2  7#b7    
:e!r m&atory rotation ( regi/]$ public  
acc\nt+ firms w\ld impair audit quality 
due to ! loss ( loss ( indu/ry or       
company-specific k ga9$ by a public     
acc\nt+ firm ?r\gh ye>s ( exp]i5ce      
audit+ ! issu]2 &  7#c7 :at affect !    
,s>banes-,oxley ,act ( #bjjb has _h on  

regi/]$ public acc\nt+ firms' indep5d5ce
 & :e!r additional indep5d5ce re=ms are 
ne$$4  7b7 ,report ,requir$ ,n lat] ?an 
#a ye> aft] ! date ( enactm5t ( ?is     
,act1 ! ,comptroll] ,g5]al %all submit a
 report to ! ,committee on ,bank+1      
,h\s+1 & ,urban ,affairs ( ! ,s5ate & ! 
,committee on ,f9ancial ,s]vices ( !    
,h\se ( ,repres5tatives on ! results ( !
 /udy & review requir$ by ?is section4  
7c7 ,def9ition ,= purposes ( ?is        
section1 ! t]m m&atory rotation ref]s to
 ! imposition ( a limit on ! p]iod (    
ye>s 9 :i* a p>ticul> regi/]$ public    
acc\nt+ firm may be ! auditor ( record =
 a p>ticul> issu]4  ,july #h1 #bjac     
,report$ ) an am5dm5t1 committ$ to !    
,committee ( ! ,:ole ,h\se on ! ,/ate ( 
! ,union1 & ord]$ to be pr9t$