IIB 
113TH CONGRESS 
1ST SESSION H. R. 1564 
IN THE SENATE OF THE UNITED STATES 
JULY 9, 2013 
Received; read twice and referred to the Committee on Banking, Housing, and 
Urban Affairs 
AN ACT 
To amend the Sarbanes-Oxley Act of 2002 to prohibit the 
Public Company Accounting Oversight Board from re-
quiring public companies to use specific auditors or re-
quire the use of different auditors on a rotating basis. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Audit Integrity and 
Job Protection Act’’. 
SEC. 2. LIMITATION ON AUTHORITY RELATING TO AUDI-
TORS. 
Section 103 of the Sarbanes-Oxley Act of 2002 (15 
U.S.C. 7213) is amended by adding at the end the fol-
lowing: 
‘‘(e) LIMITATION ON AUTHORITY.—The Board shall 
have no authority under this title to require that audits 
conducted for a particular issuer in accordance with the 
standards set forth under this section be conducted by spe-
cific registered public accounting firms, or that such au-
dits be conducted for an issuer by different registered pub-
lic accounting firms on a rotating basis.’’. 
SEC. 3. STUDY OF MANDATORY ROTATION OF REGISTERED 
PUBLIC ACCOUNTING FIRMS. 
(a) STUDY AND REVIEW REQUIRED.—The Comp-
troller General of the United States shall update its No-
vember 2003 report entitled ‘‘Study on the Potential Ef-
fects of Mandatory Audit Firm Rotation’’, and review the 
potential effects, including the costs and benefits, of re-
quiring the mandatory rotation of registered public ac-
counting firms. In addition, the update shall include a 
study of— 
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(1) whether mandatory rotation of registered 
public accounting firms would mitigate against po-
tential conflicts of interest between registered public 
accounting firms and issuers; 
(2) whether mandatory rotation of registered 
public accounting firms would impair audit quality 
due to the loss of industry or company-specific 
knowledge gained by a registered public accounting 
firm through years of experience auditing the issuer; 
and 
(3) what affect the Sarbanes-Oxley Act of 2002 
has had on registered public accounting firms’ inde-
pendence and whether additional independence re-
forms are needed. 
(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, Hous-
ing, 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 sec-
tion. 
(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 reg-
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istered public accounting firm may be the auditor of 
record for a particular issuer. 
Passed the House of Representatives July 8, 2013. 
Attest: 
KAREN L. HAAS, 
Clerk. 
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