H.R. 6769, titled the “Trusted Foreign Auditing Act of 2023,” aims to amend the Sarbanes-Oxley Act of 2002 to require disclosures about foreign countries that obstruct audit inspections. The bill introduces definitions for "compromised auditor" and "covered country" and mandates trading...
Simple Explanation
Congress is thinking about changing some rules so that companies have to tell everyone if certain countries won't let their business auditors be checked on by American inspectors. This is to make sure everyone can trust the company's financial information.