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Previous
Enron Bills
New
York Legislation
- Assembly
Bill A09953:
(Barra)
Prohibits the state agencies, departments, bureaus, boards,
and commissions, and any instrumentalities of the state from
contracting for, employing, or otherwise engaging the services
of the accounting firm Andersen, LLP.
Status:
3-4-02
Referred to the Assembly Committee on Governmental Operations
Committee.
- Assembly
Bill A11325:
(Englebright -- Identical to Skelos S06164)
Prohibits accountants from providing accounting services to
any corporation, the shares and bonds of which are publicly
traded, for 5 years after such accountant performs an audit
on such corporation
Status: 5-6-02 Referred to
Higher Education Committee
- Senate
Bill S07849
(Spano) / Assembly
Bill A11371-A
(Brodsky):
Provides for the registration of accounting firms, adding
to partnerships: sole proprietorships, professional service
corporations, and professional service limited liability companies;
permits any combination of certified public accountants or
public accountants; provided that each member of a firm designated
as "certified public accountants" must be a certified
public accountant. This bill would authorize a firm's registration
to be revoked if the firm violates a new prohibition on performing
any other professional services for an audit or attest client.
Status:
(S07849)
6-20-02 Amended and recommitted to the Assembly Committee
on Higher
Education
6-20-02
Print Number 11371A
6-25-02
Reported Referred to Codes
(A11371-A) 8-5-02 Referred to Rules
- Senate
Bill S07850
(Spano) / Assembly Bill A09831-A
(Brodsky):
Provides criminal and civil penalties for business entities
and certain public service corporations engaging in professional
misconduct in connection with the issuance of audited financial
statements; expands the definition of professional misconduct
for such purposes; prohibits the investment of public pension
funds in certain securities.
Status: (S07850)
5-9-02
Amended and Recommitted to Corporations, Authorities
and
Commissions
5-9-02
Print Number 9831-A
6-11-02
Reported Referred to Codes
(A09831-A) 8-5-02 Referred to Rules
- Senate
Bill S06269
(LaValle) / Assembly Bill A09768
(DiNapoli):
Entitled the "Accountability Act of 2002": this
bill would prohibit an auditor who audits the activities or
operations of the state and local employee's retirement system
or the state and local police/firemen retirement system from:
-providing
non-audit services to such audited retirement system
-auditing such retirement system for more that 7 years
-accepting employment from such audited retirement system
within two years after the auditor's most recent audit
of such system
The
above restrictions would also apply to auditors who audit
any NYS department, bureau, authority or other agency
or instrumentality of the State.
Status:
(S06269)
6-20-02 Committed to Senate Rules Committee
(A09768) 2-7-02 Referred to Assembly Committee
on Govenment Employees
-
Senate Bill S06164:
(Skelos -- Identical to Engelbright A11325)
Prohibits accountants from providing accounting services,
other than an audit, to any publicly traded corporation upon
which such accountant has conducted an audit in the previous
five years.
Status: 3-12-02 Committee
Discharge and Committed to Higher Education Committee
-
Senate
Bill S06248-A
(DeFrancisco) / Assembly Bill A11021-A
(Lentol): Would create new crimes based upon a
corporate director or officer knowingly allowing generally
accepted accounting principles to be intentionally or recklessly
violated to the detriment of such corporation's stockholders.
These crimes would have four specified degrees with sanctions
ranging from Class A misdemeanor to Class B Felony.
Status:
(S06248-A)
6-20-02 Committed to Senate Rules Committee
(A11021-A) 4-25-02 Amend and Recommit to Codes
4-25-02
Print Number 11021A
-
Senate
Bill S06247:
(DeFrancisco)
This bill would increase the penalty for fraudulent practices
in inducing or promoting the issuance, distribution, exchange,
sale, negotiation or purchase within or from this state of
any securities (in a value in excess of $250), from a class
E to class D felony.
Status: 5-21-02 Passed
Senate, Delivered to Assembly and Referred to the Committee
on Consumer
Affairs and Protection
-
Senate
Bill S05628-A:
(LaValle)
An act to amend the education law and the state finance law,
in relation to the practice of public accountancy.
Status: 6-14-02 Amend
(T) and Recommit to Higher Education Committee
6-14-02
Print Number 5628A
Federal
Legislation
- H.R.3763:
Corporate and Auditing Accountability, Responsibility, and
Transparency Act of 2002: To protect investors by improving
the accuracy and reliability of corporate disclosures made
pursuant to the securities laws, and for other purposes.
HR Bill 3763
- Text
HR Bill 3763
- Summary
HR Bill 3763
- Resolution
Status: 4-24-02 Passed by
House 334 - 90
7-25-02
Cleared for White House
- S.
2004: A
bill to improve quality and transparency in financial reporting
and independent audits and accounting services, to designate
an Independent Public Accounting Board, to enhance the standard
setting process for accounting practices, to improve Securities
and Exchange Commission resources and oversight, and for other
purposes.
HR
Bill 2004
- Text
HR
Bill 2004
- Summary
Status: 3-8-02
Referred to Senate committee. Read twice and referred to the
Committee on
Banking, Housing, and Urban Affairs.
- S.
2673: (Sarbanes, introduced 6-25-02) To improve quality
and transparency in financial reporting and independent audits
and accounting services for public companies, to create a
Public Company Accounting Oversight Board, to enhance the
standard setting process for accounting practices, to strengthen
the independence of firms that audit public companies, to
increase corporate responsibility and the usefulness of corporate
financial disclosure, to protect the objectivity and independence
of securities analysts, to improve Securities and Exchange
Commission resources and oversight, and for other purposes.
Senate Bill 2673
- Text
Status: 7-15-02 Passed by Senate
97 - 0
7-30-02
Signed into law by President Bush
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