Amendment codifies certain SEC financial fraud and disclosure requirements with respect to the auditing of publicly-traded companies by requiring independent accountants auditing such companies to evaluate the company's viability for the coming year, to use auditing procedures designed to detect illegal acts, report to the company's management any illegal acts the accountant uncovers, and report any illegal acts to the SEC if the company itself fails to do so.

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Amendment Number
273
Description
Amendment codifies certain SEC financial fraud and disclosure requirements with respect to the auditing of publicly-traded companies by requiring independent accountants auditing such companies to evaluate the company's viability for the coming year, to use auditing procedures designed to detect illegal acts, report to the company's management any illegal acts the accountant uncovers, and report any illegal acts to the SEC if the company itself fails to do so.
Purpose
An amendment to codify certain SEC financial fraud and disclosure requirements with respect to the auditing of publicly-traded companies. Among other items, the amendment requires independent accountants auditing such companies to evaluate the company's viability for the coming year, use auditing procedures designed to detect illegal acts, and report to the company's management any illegal acts the accountant uncovers. Under the amendment, an auditor would be required to report any such illegal acts to the SEC if the company itself failed to do so.
Congress
104
Type
HAMDT
Latest Action Date
Mar 8, 1995
Latest Action Text
On agreeing to the Wyden amendment (A008) Agreed to by voice vote.
Latest Action Time
16:42:23
Submitted Date
Mar 8, 1995
Chamber
House of Representatives
Update Date
Aug 15, 2021
Amendment 273 — Informed