IB 
Union Calendar No. 103 
113TH CONGRESS 
1ST SESSION H. R. 1564 
[Report No. 113–142] 
To amend the Sarbanes-Oxley Act of 2002 to prohibit the Public Company 
Accounting Oversight Board from requiring public companies to use 
specific auditors or require the use of different auditors on a rotating 
basis. 
IN THE HOUSE OF REPRESENTATIVES 
APRIL 15, 2013 
Mr. HURT (for himself and Mr. MEEKS) introduced the following bill; which 
was referred to the Committee on Financial Services 
JULY 8, 2013 
Additional sponsors: Mr. HUIZENGA of Michigan, Mr. ROYCE, Mr. ROSS, Mr. 
MULVANEY, Mr. BACHUS, Mr. STIVERS, Mr. GARRETT, Mr. LUETKE-
MEYER, Mr. MURPHY of Florida, Ms. MOORE, Mr. DAVID SCOTT of Geor-
gia, and Mr. PETERS of Michigan 
JULY 8, 2013 
Reported with an amendment, committed to the Committee of the Whole 
House on the State of the Union, and ordered to be printed 
[Strike out all after the enacting clause and insert the part printed in italic] 
VerDate Mar 15 2010 
21:16 Jul 08, 2013
Jkt 029200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6652
E:\BILLS\H1564.RH
H1564
emcdonald on DSK67QTVN1PROD with BILLS
A BILL 
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. 
VerDate Mar 15 2010 
21:16 Jul 08, 2013
Jkt 029200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6652
E:\BILLS\H1564.RH
H1564
emcdonald on DSK67QTVN1PROD with BILLS
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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 auditors, or that such audits be conducted for an 
issuer by different auditors on a rotating basis.’’. 
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 following: 
‘‘(e) LIMITATION ON AUTHORITY.—The Board shall 
have no authority under this title to require that audits 
VerDate Mar 15 2010 
21:16 Jul 08, 2013
Jkt 029200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6203
E:\BILLS\H1564.RH
H1564
emcdonald on DSK67QTVN1PROD with BILLS
conducted for a particular issuer in accordance with the 
standards set forth under this section be conducted by spe-
cific auditors, or that such audits be conducted for an issuer 
by different auditors on a rotating basis.’’. 
SEC. 3. STUDY OF MANDATORY ROTATION OF REGISTERED 
PUBLIC ACCOUNTING FIRMS. 
(a) STUDY AND REVIEW REQUIRED.—The Comptroller 
General of the United States shall update its November 
2003 report entitled ‘‘Study on the Potential Effects of 
Mandatory Audit Firm Rotation’’, and review the potential 
effects, including the costs and benefits, of requiring the 
mandatory rotation of registered public accounting firms. 
In addition, the update shall include a study of— 
(1) whether mandatory rotation of registered 
public accounting firms would mitigate against po-
tential conflicts of interest between public accounting 
firms and issuers; 
(2) whether mandatory rotation of registered 
public accounting firms would impair audit quality 
due to the loss of loss of industry or company-specific 
knowledge gained by a 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-
VerDate Mar 15 2010 
21:16 Jul 08, 2013
Jkt 029200
PO 00000
Frm 00004
Fmt 6652
Sfmt 6203
E:\BILLS\H1564.RH
H1564
emcdonald on DSK67QTVN1PROD with BILLS
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 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. 
VerDate Mar 15 2010 
21:16 Jul 08, 2013
Jkt 029200
PO 00000
Frm 00005
Fmt 6652
Sfmt 6203
E:\BILLS\H1564.RH
H1564
emcdonald on DSK67QTVN1PROD with BILLS
Union Calendar No. 103 
113TH CONGRESS 
1ST SESSION 
H. R. 1564 
[Report No. 113–142] 
A BILL 
To amend the Sarbanes-Oxley Act of 2002 to pro-
hibit the Public Company Accounting Oversight 
Board from requiring public companies to use 
specific auditors or require the use of different 
auditors on a rotating basis. 
JULY 8, 2013 
Reported with an amendment, committed to the Com-
mittee of the Whole House on the State of the Union, 
and ordered to be printed 
VerDate Mar 15 2010 
21:16 Jul 08, 2013
Jkt 029200
PO 00000
Frm 00006
Fmt 6651
Sfmt 6651
E:\BILLS\H1564.RH
H1564
emcdonald on DSK67QTVN1PROD with BILLS