Increased Transparency in Accounting Firm Oversight: PCAOB Disciplinary Proceedings Open
This act increases transparency in the oversight of accounting firms that audit public companies. Citizens will have easier access to information on how supervisory bodies hold accounting firms accountable for potential irregularities, which can increase trust in financial markets and protect investors.
Key points
Disciplinary hearings against accounting firms will be open to the public by default, unless the oversight board decides otherwise.
Decisions to impose sanctions on accounting firms will be published immediately, without waiting for any appeals to conclude.
Status:
Introduced
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