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bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      House Committee on Financial Services
    IntroducedMarch 5th, 2009

Bill Details

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Title

Federal Accounting Oversight Board Act of 2009

Official Title

To establish the Federal Accounting Oversight Board to approve and oversee accounting principles and standards for the purposes of the Federal financial regulatory agencies, and for other purposes.

Summary

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.

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