US House Passes Ban On Forced Rotation Of Auditors

Law360, Los Angeles (July 8, 2013, 9:00 PM EDT) -- The U.S. House of Representatives voted overwhelmingly Monday to approve the Audit Integrity and Job Protection Act, a bipartisan bill that would block the top U.S. accounting watchdog from forcing public companies to rotate their auditors.

The 321-62 vote comes less than a month after the House Financial Services Committee voted at a hearing to advance the bill, H.R. 1564, which was drafted after businesses lashed out against the Public Company Accounting Oversight Board's auditor rotation proposal. The bill would amend the Sarbanes-Oxley Act of 2002...
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