Sarbanes Oxley Act Section 207

 

SEC. 207. STUDY OF MANDATORY ROTATION OF REGISTERED PUBLIC
ACCOUNTING FIRMS.
 
(a) STUDY AND REVIEW REQUIRED.—
The Comptroller General
of the United States shall conduct a study and review of the
potential effects of requiring the mandatory rotation of registered
public accounting firms.
 
(b) REPORT REQUIRED.—Not later than 1 year after the date
of enactment of this Act, the Comptroller General shall submit
a report to the Committee on Banking, Housing, 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 section.
 
(c) DEFINITION.—For purposes of this section, 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 issuer. 

 

 
     

 

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