Amendment sought to establish capital standards for accounting companies that audit publicly traded companies; and require the SEC to set capital standards at a level no lower than half of the firm's annual audit revenues.

Purpose:

An amendment numbered 3 printed in House Report 107-418 to require auditors of publicly-traded companies to meet a minimum net capital requirement of not less than one-half of the annual audit revenue received by the accountant from issuers registered with the SEC.

House Amendment Code:

(A003)

House Tally Clerks use this code to manage amendment information.