HR-4139 : Still Just a Bill

Fostering Innovation Act of 2015

This bill amends the Sarbanes-Oxley Act of 2002 with respect to the requirement that each registered public accounting firm that prepares or issues an audit report for an issuer of securities (other than an emerging growth company) shall attest to, and report on, the internal control assessment made by the management of the issuer.

This requirement shall not apply with respect to any audit report prepared for an issuer that:

  • ceased to be an emerging growth company on the last day of its fiscal year following the fifth anniversary of its first sale of common equity securities,
  • had average annual gross revenues of less than $50 million as of its most recently completed fiscal year, and
  • is not a large accelerated filer.

Action Timeline

Action DateTypeTextSource
2016-05-24IntroReferralReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.Senate
2016-05-23FloorMotion to reconsider laid on the table Agreed to without objection.House floor actions
2016-05-23FloorOn motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H2907)House floor actions
2016-05-23FloorDEBATE - The House proceeded with forty minutes of debate on H.R. 4139.House floor actions
2016-05-23FloorConsidered under suspension of the rules. (consideration: CR H2907-2910)House floor actions
2016-05-23FloorMr. Luetkemeyer moved to suspend the rules and pass the bill.House floor actions
2016-05-23CalendarsPlaced on the Union Calendar, Calendar No. 458.House floor actions
2016-05-23CommitteeReported by the Committee on Financial Services. H. Rept. 114-588.House floor actions
2016-03-02CommitteeOrdered to be Reported by the Yeas and Nays: 42 - 15.House committee actions
2016-03-02CommitteeCommittee Consideration and Mark-up Session Held.House committee actions
2015-12-02CommitteeHearings Held by the Subcommittee on Capital Markets and Government Sponsored Enterprises Prior to Referral.House committee actions
2015-12-01IntroReferralReferred to the House Committee on Financial Services.House floor actions
2015-12-01IntroReferralIntroduced in HouseLibrary of Congress

Policy Area :

Finance and Financial Sector
See Subjects
  • Accounting and auditing
  • Business records
  • Government information and archives
  • Securities

Related Bills

See Related Bills