H.R.755 - Promoting Transparency in Financial Reporting Act of 2007
To require annual oral testimony before the Financial Services Committee of the Chairperson or a designee of the Chairperson of the Securities and Exchange Commission, the Financial Accounting Standards Board, and the Public Company Accounting Oversight Board, relating to their efforts to promote transparency in financial reporting.
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Result: Passed - February 27, 2007
Question: On Motion to Suspend the Rules and Pass: H R 755 Promoting Transparency in Financial Reporting Act
This bill would require three agencies that are responsible for overseeing and regulating major U.S.financial institutions to testify annually before the House of Representative's Financial Services Committee. The goals of these testimonies would be to change outdated standards, improve the usability of accounting and auditing liteature, encourage usage of interactive data, and promote disclosures in "plain English."
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Promoting Transparency in Financial Reporting Act of 2007 - Requires the Securities and Exchange Commission (SEC), the Financial Accounting Standards Board, and the Public Company Accounting Oversight Board to provide oral testimony by their respective Chairpersons (or a designee), beginnin...Read the Rest