New Foreign Audit Rules: Investor Protection and National Security.
This act aims to enhance investment security by introducing new rules for auditing foreign companies. It defines "compromised auditor" and "covered country," protecting citizens from dishonest financial practices. If such an auditor is employed, trading in the company's shares may be halted, safeguarding your money.
Key points
Introduces the definition of a "compromised auditor" – an auditing firm potentially influenced by a government deemed a threat to U.S. security.
If a company from a covered country hires a "compromised auditor," trading of its shares on the stock exchange may be prohibited, protecting investors.
Allows public hearings in cases involving "compromised auditors," increasing transparency and access to information for citizens.
Expired
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