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Sarbanes Oxley
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SEC. 205.
CONFORMING AMENDMENTS.
(a) DEFINITIONS.—Section
3(a) of the Securities Exchange Act
of 1934 (15
U.S.C. 78c(a)) is amended by adding at the end
the
following:
‘‘(58) AUDIT
COMMITTEE.—The term ‘audit
committee’
means—
‘‘(A) a
committee (or equivalent body) established by
and amongst
the board of directors of an issuer for the
purpose of
overseeing the accounting and financial
reporting
processes of the issuer and audits of the
financial
statements of
the issuer; and
‘‘(B) if no
such committee exists with respect to an
issuer, the
entire board of directors of the issuer.
‘‘(59) REGISTERED
PUBLIC ACCOUNTING FIRM.—The term
‘registered
public accounting firm’ has the same meaning
as
in section 2
of the Sarbanes-Oxley Act of 2002.’’.
(b) AUDITOR
REQUIREMENTS.—Section 10A of the
Securities
Exchange Act
of 1934 (15 U.S.C. 78j–1) is amended—
(1) by
striking ‘‘an independent public accountant’’
each
place that
term appears and inserting ‘‘a registered
public
accounting
firm’’;
(2) by
striking ‘‘the independent public accountant’’
each
place that
term appears and inserting ‘‘the registered
public
accounting
firm’’;
(3) in
subsection (c), by striking ‘‘No independent
public
accountant’’
and inserting ‘‘No registered public
accounting
firm’’; and
(4) in
subsection (b)—
(A) by
striking ‘‘the accountant’’ each place that
term
appears and
inserting ‘‘the firm’’;
(B) by
striking ‘‘such accountant’’ each place that
term
appears and
inserting ‘‘such firm’’; and
(C) in
paragraph (4), by striking ‘‘the accountant’s
report’’ and
inserting ‘‘the report of the firm’’.
(c) OTHER
REFERENCES.—The Securities Exchange
Act of 1934
(15 U.S.C.
78a et seq.) is amended—
(1) in
section 12(b)(1) (15 U.S.C. 78l(b)(1)), by
striking
‘‘independent
public accountants’’ each place that term
appears
and inserting
‘‘a registered public accounting firm’’; and
(2) in
subsections (e) and (i) of section 17 (15
U.S.C. 78q),
by striking
‘‘an independent public accountant’’ each
place that
term appears
and inserting ‘‘a registered public accounting
firm’’.
(d) CONFORMING
AMENDMENT.—Section 10A(f) of the
Securities
Exchange Act
of 1934 (15 U.S.C. 78k(f)) is amended—
(1) by
striking ‘‘DEFINITION’’ and inserting
‘‘DEFINITIONS’’; and
(2) by adding
at the end the following: ‘‘As used in this
section, the
term ‘issuer’ means an issuer (as defined in
section
3), the
securities of which are registered under
section 12,
or that is
required to file reports pursuant to section
15(d),
or that files
or has filed a registration statement that has
not yet
become effective under the Securities Act of
1933 (15
U.S.C. 77a et
seq.), and that it has not withdrawn.’’.
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