TITLE II - AUDITOR INDEPENDENCE
SEC. 207. STUDY OF MANDATORY ROTATION OF REGISTERED PUBLIC ACCOUNTING FIRMS.
(a) STUDY AND REVIEW REQUIRED. - The Comptroller General of the United States
shall conduct a study and review of the potential effects of requiring the mandatory
rotation of registered public accounting firms.
(b) REPORT REQUIRED. - Not later than 1 year after the date of enactment of
this Act, the Comptroller General shall submit a report to the Committee on
Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial
Services of the House of Representatives on the results of the study and review
required by this section.
(c) DEFINITION. - For purposes of this section, the term "mandatory rotation"
refers to the imposition of a limit on the period of years in which a particular
registered public accounting firm may be the auditor of record for a particular
issuer.
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