New Rules for Audit Firms from US National Security Threat Countries
This act introduces new rules for audit firms linked to countries deemed a threat to US national security. If a company from such a country hires an auditor with ties to that country, its shares may face a trading prohibition. This aims to protect investors and ensure the reliability of financial reports.
Key points
Companies from countries identified as US national security threats, if they retain auditors influenced by those countries, may face a trading prohibition on their shares.
Defines a "compromised auditor" as one controlled or materially influenced by a covered country's government.
Allows for public hearings in cases involving "compromised auditors".
Introduced
Citizen Poll