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House Passes Bill Prohibiting Mandatory Auditor Rotation

Posted in Public Companies

The House of Representatives passed a bill yesterday, HR 1564, which prohibits the PCAOB from mandating automatic rotation of a reporting company’s independent auditors.  The bill was passed by a vote of 321-62.  More information can be found here:  http://financialservices.house.gov/news/documentsingle.aspx?DocumentID=341737.