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The U.S. House of Representatives on Wednesday passed a bill designed to reform accounting practices. The bill creates an independent auditor oversight body under the U.S. Securities and Exchange Commission to monitor and impose sanctions on accounting firms, and bans auditors from performing some consulting work. At least two similar bills, said to have more stringent accounting reform provisions, are pending in the Senate.
April 26, 2002 at 12:00 AM
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The original version of this story was published on Law.Com
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