Title 15 — Commerce and TradeRelease 119-73
§7234 Considerations by appropriate State regulatory authorities
Title 15 › Chapter CHAPTER 98— - PUBLIC COMPANY ACCOUNTING REFORM AND CORPORATE RESPONSIBILITY › Subchapter SUBCHAPTER II— - AUDITOR INDEPENDENCE › § 7234
Summary
State regulators must decide for themselves what rules to use when they supervise public accounting firms that are not registered and the people who work for them. They must pay attention to the size and type of the firm and the size and type of the firm’s clients. The standards the Board sets under this law should not automatically be used for small and medium‑sized unregistered firms.
Full Legal Text
Title 15, §7234
Commerce and Trade — Source: USLM XML via OLRC
In supervising nonregistered public accounting firms and their associated persons, appropriate State regulatory authorities should make an independent determination of the proper standards applicable, particularly taking into consideration the size and nature of the business of the accounting firms they supervise and the size and nature of the business of the clients of those firms. The standards applied by the Board under this Act should not be presumed to be applicable for purposes of this section for small and medium sized nonregistered public accounting firms.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
References in Text
This Act, referred to in text, is Pub. L. 107–204, July 30, 2002, 116 Stat. 745, known as the Sarbanes-Oxley Act of 2002. For complete classification of this Act to the Code, see Tables.
Reference
Citations & Metadata
Citation
15 U.S.C. § 7234
Title 15 — Commerce and Trade
Last Updated
Apr 6, 2026
Release point: 119-73