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HR 1564 113th Congress House Finance and Financial Sector Accounting and auditing Administrative law and regulatory procedures Congressional oversight Corporate finance and management Financial services and investments Government corporations and government-sponsored enterprises Government studies and investigations Securities

Audit Integrity and Job Protection Act

Introduced: April 15, 2013 See on congress.gov
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 Everywhere this bill has been 16 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 9, 2013
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jul 8, 2013
Motion to reconsider laid on the table Agreed to without objection.
Jul 8, 2013
On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 321 - 62 (Roll no. 306). (text: CR H4182)
Jul 8, 2013
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 321 - 62 (Roll no. 306).(text: CR H4182)
Jul 8, 2013
Considered as unfinished business. (consideration: CR H4186-4187)
Jul 8, 2013
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Jul 8, 2013
DEBATE - The House proceeded with forty minutes of debate on H.R. 1564.
Jul 8, 2013
Considered under suspension of the rules. (consideration: CR H4182-4184)
Jul 8, 2013
Mr. Hurt moved to suspend the rules and pass the bill, as amended.
Jul 8, 2013
Placed on the Union Calendar, Calendar No. 103.
Jul 8, 2013
Reported (Amended) by the Committee on Financial Services. H. Rept. 113-142.
Jun 19, 2013
Ordered to be Reported (Amended) by the Yeas and Nays: 52 - 0.
Jun 19, 2013
Committee Consideration and Mark-up Session Held.
May 23, 2013
Hearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.
Apr 15, 2013
Referred to the House Committee on Financial Services.
Apr 15, 2013
Introduced in House
 Votes taken on this bill 1
DateChamberWhat was voted onResultYes–No
Jul 8, 2013 House · vote #306 On Motion to Suspend the Rules and Pass, as Amended Passed 321–62 See who voted →
 Plain-English summary Congressional Research Service

Audit Integrity and Job Protection Act - Amends the Sarbanes-Oxley Act of 2002 (SOX) to deny the Public Company Accounting Oversight Board any authority to require that audits conducted for a particular issuer of securities in accordance with SOX standards be conducted by specific registered public accounting firms, or that such audits be conducted for an issuer by different registered public accounting firms on a rotating basis.

Directs the Comptroller General (GAO) to update the November 2003 report, "Study on the Potential Effects of Mandatory Audit Firm Rotation," and review the potential effects (including costs and benefits) of requiring the mandatory rotation of registered public accounting firms.

Requires such update also to study: (1) whether mandatory rotation of registered public accounting firms would mitigate against potential conflicts of interest between registered public accounting firms and issuers; (2) whether such a mandatory rotation would impair audit quality due to the loss of industry or company-specific knowledge gained by a registered public accounting firm through years of experience auditing the issuer; and (3) what effect SOX has had upon registered public accounting firms' independence, and whether additional independence reforms are needed.

What's happening now July 9, 2013

Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

 Committees of jurisdiction 3
 Cosponsors 4
All 4 Democratic 3 Republican 1