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House Lawmakers Target Sarbanes-Oxley Act for Review

Jan. 15, 2020, 11:48 PM

Two leading members of the House Financial Services Committee are hoping to review the landmark 2002 Sarbanes-Oxley Act, which regulated the audit industry and strengthened corporate governance after the collapses of Enron Corp. and WorldCom Inc.

“I believe that it’s now time for Congress to holistically examine Sarbanes-Oxley as well as the role and structure of the PCAOB with the goal of furthering investor protection and making government as efficient as possible for the taxpayers,” said Rep. Bill Huizenga (R-Mich.) during subcommittee hearing Wednesday with the Public Company Accounting Oversight Board.

Aspects of the audit regulator’s role including ...