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Increased Transparency: PCAOB Disciplinary Proceedings to Be Open to the Public

This Act promotes transparency in the oversight of auditing firms that review public companies. It mandates that disciplinary hearings conducted by the Public Company Accounting Oversight Board (PCAOB) will be open to the public by default. For citizens investing in the stock market, this change means faster and easier access to information about misconduct by auditing firms, potentially leading to more informed investment decisions and greater confidence in the financial market.
Key points
PCAOB disciplinary hearings (oversight of public company auditors) will be open to the public by default, unless the Board orders otherwise.
Information about imposed sanctions and penalties will be published immediately, removing the previous requirement to wait until any stay on the sanction is lifted.
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Additional Information
Print number: 118_S_865
Sponsor: Sen. Reed, Jack [D-RI]
Process start date: 2023-03-16
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

PCAOB Enforcement Transparency Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_865.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-03-16.

What are the main provisions?

Key points include:

  • PCAOB disciplinary hearings (oversight of public company auditors) will be open to the public by default, unless the Board orders otherwise.
  • Information about imposed sanctions and penalties will be published immediately, removing the previous requirement to wait until any stay on the sanction is lifted.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Reed, Jack [D-RI].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-30.

CATEGORIES

Economy Courts and Law