Stricter Auditing Rules for Companies Linked to National Security Threat Countries
This law aims to protect US investors by tightening rules for auditing public companies, especially those linked to countries identified as national security threats. If a company uses an auditor influenced by a foreign government, its shares may be banned from trading on US stock exchanges. These changes enhance financial transparency and investment security.
Key points
Imposes a trading ban on companies that use auditors controlled or significantly influenced by foreign governments deemed national security threats.
Defines 'compromised auditor' and 'covered country' based on intelligence reports regarding national security.
Requires public hearings for cases involving these 'compromised auditors,' increasing public oversight of the financial market.
Expired
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