United States · Amendment · HAMDT

HAMDT 273 (104th)

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.