2015 US Code
Title 15 - Commerce and Trade (Sections 1 - 8405)
Chapter 98 - Public Company Accounting Reform and Corporate Responsibility (Sections 7201 - 7266)
Subchapter III - Corporate Responsibility (Sections 7241 - 7246)
Sec. 7242 - Improper influence on conduct of audits
| Publication Title | United States Code, 2012 Edition, Supplement 3, Title 15 - COMMERCE AND TRADE |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 15 - COMMERCE AND TRADE CHAPTER 98 - PUBLIC COMPANY ACCOUNTING REFORM AND CORPORATE RESPONSIBILITY SUBCHAPTER III - CORPORATE RESPONSIBILITY Sec. 7242 - Improper influence on conduct of audits |
| Contains | section 7242 |
| Date | 2015 |
| Laws In Effect As Of Date | January 3, 2016 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Pub. L. 107-204, title III, §303, July 30, 2002, 116 Stat. 778. |
| Statutes at Large Reference | 116 Stat. 778 |
| Public and Private Law | Public Law 107-204 |
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It shall be unlawful, in contravention of such rules or regulations as the Commission shall prescribe as necessary and appropriate in the public interest or for the protection of investors, for any officer or director of an issuer, or any other person acting under the direction thereof, to take any action to fraudulently influence, coerce, manipulate, or mislead any independent public or certified accountant engaged in the performance of an audit of the financial statements of that issuer for the purpose of rendering such financial statements materially misleading.
(b) EnforcementIn any civil proceeding, the Commission shall have exclusive authority to enforce this section and any rule or regulation issued under this section.
(c) No preemption of other lawThe provisions of subsection (a) shall be in addition to, and shall not supersede or preempt, any other provision of law or any rule or regulation issued thereunder.
(d) Deadline for rulemakingThe Commission shall—
(1) propose the rules or regulations required by this section, not later than 90 days after July 30, 2002; and
(2) issue final rules or regulations required by this section, not later than 270 days after July 30, 2002.
(Pub. L. 107–204, title III, §303, July 30, 2002, 116 Stat. 778.)
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