109th CONGRESS
1st Session
H. R. 1641
To make the internal control requirements of the Sarbanes-Oxley Act
of 2002 voluntary.
IN THE HOUSE OF REPRESENTATIVES
April 14, 2005
Mr. FLAKE introduced the following bill; which was referred to the Committee
on Financial Services
A BILL
To make the internal control requirements of the Sarbanes-Oxley Act
of 2002 voluntary.
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 `Competitiveness Enhancement and Opportunity
Act of 2005'.
SEC. 2. MANAGEMENT ASSESSMENT OF INTERNAL CONTROLS VOLUNTARY.
Section 404 of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7262) is amended--
(A) by striking `requiring each annual report' and inserting `permitting
each annual report'; and
(B) by striking `which shall--' and inserting `which, if containing such
internal control report, shall--'; and
(A) by striking `shall attest' and inserting `may attest'; and
(B) by striking `attestation made' and inserting `attestation if made'.
END
