Trusted Foreign Auditing Act of 2025

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 4616 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 4616 To amend the Sarbanes-Oxley Act of 2002 to provide for disclosure regarding foreign jurisdictions that hinder inspections, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES July 22, 2025 Ms. Stefanik introduced the following bill; which was referred to the Committee on Financial Services _______________________________________________________________________ A BILL To amend the Sarbanes-Oxley Act of 2002 to provide for disclosure regarding foreign jurisdictions that hinder inspections, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Trusted Foreign Auditing Act of 2025''. SEC. 2. INSPECTION OF REGISTERED PUBLIC ACCOUNTING FIRMS. Section 104(i) of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7214(i)) is amended-- (1) in paragraph (1)-- (A) by redesignating subparagraphs (A) and (B) as subparagraphs (C) and (D), respectively; and (B) by inserting before subparagraph (C), as so redesignated, the following: ``(A) the term `compromised auditor' means, with respect to a registered public accounting firm, an independent branch or office of that firm (or a subsidiary of such a branch or office) that-- ``(i) is subject to the jurisdiction and laws of the government of a covered country; ``(ii) is directly or indirectly controlled, directed, or materially influenced by a covered country; ``(iii) has a manager or owner, or conducts any operation, that is subject to the direct influence of a covered country; or ``(iv) has entered into any arrangement, agreement, or relationship with the government or political party of a covered country that could compromise the objectivity, integrity, or independence of