On July 8, 2013, the full House of Representatives passed by a large, bipartisan margin the bill (previously reported on June 20) to prohibit the Public Company Accounting Oversight Board from requiring mandatory auditor rotation. The bill also would require the General Accounting Office to conduct another study of mandatory auditor rotation and to report to Congress within one year after enactment.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.