• Register
Return to: Home > News > US House of Representatives to consider PCAOB whistleblower legislation

US House of Representatives to consider PCAOB whistleblower legislation

The ‘PCAOB Whistleblower Protection Act’ of 2019 was introduced into the House of Representatives by Rep. Sylvia Garcia (D, Texas) on 5 July 2019 with the aim of adding whistleblower incentives and protection to the US audit watchdog, the Public Company Accounting Oversight Board along the lines of the whistleblower rules in place at the Securities and Exchange Commission.

The legislation has been tabled as an amendment to the Sarbanes-Oxley Act of 2002. On 16 July 2019 the Financial Services Committee passed the bill which moves on to its next step, which would be a vote on the floor of the full House.

The bill proposes that the PCAOB ‘shall pay an award or awards to 1 or more whistleblowers who voluntarily provided original information to the Board that resulted in the board imposing monetary sanctions’,  with potential payments stipulated at not less than 10% and not more than 50% ‘of what has been collected of the monetary sanctions imposed’.

Top Content

    Brazil: regulation and technology form basis for recovery

    Opportunities in the capital markets and the ever-growing influence of technology are expected to have a significant impact on the Brazilian accounting profession over the next 12 months, writes Paul Golden.

    read more

    Mentoring support and the opportunity to delegate

    Jon Lisby will be known to many from his former role as CEO of Kreston International. Here, he explains the background to his new venture, Global Alliance Advisory Services (GAAS), and how he aims to offer support to alliance CEOs.

    read more

    Global by name, global by nature

    Stephen Heathcote became chief executive officer of PrimeGlobal on 1 June 2019. Robin Amlôt met him to discuss the various new challenges that he has taken on, and his ambitions for the association.

    read more

    ARGA team, assemble!

    The new top team has been named that will see in root-and-branch reform at the Financial Reporting Council (FRC) as it transforms into the Audit, Reporting and Governance Authority (ARGA). Will the new duo be as dynamic as some are hoping? Robin Amlôt reports.

    read more

    CORONAVIRUS TIMELINE: REACTIONS FROM THE ACCOUNTANCY PROFESSION

    As the Coronavirus (COVID-19) continues to spread across the world, the International Accounting Bulletin and The Accountant will be collating all the latest news and updates from the profession on the pandemic’s impact.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.