H.R.1349 - Federal Accounting Oversight Board Act of 2009111th Congress (2009-2010)
|Sponsor:||Rep. Perlmutter, Ed [D-CO-7] (Introduced 03/05/2009)|
|Committees:||House - Financial Services|
|Latest Action:||03/05/2009 Referred to the House Committee on Financial Services. (All Actions)|
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- Finance and Financial Sector
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Summary: H.R.1349 — 111th Congress (2009-2010)All Bill Information (Except Text)
Introduced in House (03/05/2009)
Federal Accounting Oversight Board Act of 2009 - Establishes the Federal Accounting Oversight Board (FAOB) to approve and oversee accounting principles and standards for purposes of the federal financial regulatory agencies and the reporting requirements they require.
Directs the FAOB to report annually to Congress, the Financial Accounting Standards Board, and the International Accounting Standards Board on the principles and standards it has reviewed and approved
Amends the Securities Act of 1933 and the Securities Exchange Act of 1934 to transfer standard body oversight authority from the Securities and Exchange Commission (SEC) to the FAOB.