Financial Accounting News

House Passes Bill Creating Audit Regulator Whistleblower Program (1)

Sept. 19, 2019, 9:04 PMUpdated: Sept. 19, 2019, 11:02 PM

Accountants, auditors, and other whistleblowers would have a new avenue to report violations of audit regulations and federal securities laws under a House-passed bill.

The House passed H.R. 3625 on Sept. 19 by voice vote. The legislation, sponsored by Rep. Sylvia Garcia (D-Texas) would establish a whistleblower program within the Public Company Accounting Oversight Board, which serves as the U.S. audit regulator.

The bill would strengthen the oversight of the PCAOB and protect the transparency and stability of the U.S. capital markets by giving would-be whistleblowers an incentive to come forward when they suspect violations of the Sarbanes-Oxley Act, PCAOB...

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