HR 8841
Internal Control Disclosure Improvement Act of 2020
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill aims to improve transparency in the financial reporting process for publicly traded companies. It requires companies that have been penalized for issues with their financial records – specifically, failing to reconcile general ledger accounts – to disclose whether they’ve completed this reconciliation for the most recent quarter and year. The goal is to provide investors with better information about a company’s financial controls and compliance with securities laws. This disclosure requirement applies to companies that have already been found in violation of securities regulations.
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