U.S. House approves bill prohibiting mandatory auditor rotation

07/9/2013 | Journal of Accountancy online

A bipartisan bill that would stop the Public Company Accounting Oversight Board from requiring audit-firm rotation has been approved by the U.S. House of Representatives. The bill, which would have to pass the Senate and be signed by the president before becoming law, would amend the Sarbanes-Oxley Act of 2002 to prohibit the PCAOB from requiring public companies to use a specific auditor or rotate auditors.

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Journal of Accountancy online