What: All Issues : Labor Rights : Pension Protections : HR 3763. Auditing Regulations/Vote to Establish a Federal Bureau of Audits to Examine the Financial Statements of All Publicly-Traded Companies.
 Who: All Members
[POW!]
 

To find out how your Members of Congress voted on this bill, use the form on the right.

HR 3763. Auditing Regulations/Vote to Establish a Federal Bureau of Audits to Examine the Financial Statements of All Publicly-Traded Companies.
house Roll Call 107     Apr 24, 2002
Y = Conservative
N = Progressive
Winning Side:
Conservative

When the Anderson accounting firm audited Enron's books, they looked the other way on a number of accounting irregularities so they could continue consulting for Enron on the business side. This scandal, and several others like it, encouraged Congress to toughen regulatory oversight of the accounting profession. House Republicans proposed a reform bill that would establish a new oversight board and ban companies from both auditing and consulting for the same company. But many Democrats-including most Progressives-felt this did not go far enough. Kucinich (D-OH) proposed a substitute version that would establish a Federal Bureau of Audits that would audit all publicly traded companies' financial statements, replacing the private system in place. The bureau's employees would be subject to conflict-of-interest regulations, and the bureau itself would be independent with full powers of investigation. Progressives supported this idea as a more reliable way to validate a company's financial performance, but it was generally unpopular in the House as a whole because the new Bureau of Audits would effectively replace the private auditing industry. The substitute was rejected, 39-381.

Issue Areas:

Find your Member of
Congress' votes

Select by Name