# 119-hr-10477: Small Business Audit Correction Act of 2026

119-hr-10477, Small Business Audit Correction Act of 2026, is a 119th Congress bill sponsored by Rep. Hill, J. French [R-AR-2] (R-AR); status introduced; PRIA reads it as touching household money (as of 2026-10-04).

- Canonical: https://policyrisk.com/legislation/119-hr-10477
- As of: 2026-10-04
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-10477
- Congress: 119
- Title: Small Business Audit Correction Act of 2026
- Status: introduced
- Introduced: 2026-09-17
- Sponsor: Rep. Hill, J. French [R-AR-2] (R-AR)
- Cosponsors: 1
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-10-04

## Summary

**Exempts small, privately held non-carrying brokers and dealers from certain Sarbanes-Oxley Title I audit requirements.** The bill would let these firms meet Rule 17a-5 annual audit obligations with audits done under Generally Accepted Auditing Standards (GAAS) if they meet strict "in good standing" and size tests.

## Cosponsors (1)

- Rep. Barr, Andy [R-KY-6] (R-KY), 2026-09-24T00:00:00.000Z

## Provisions PRIA read

- Audit relief for small broker-dealers: benefit, medium. If enacted, the bill would let certain small, privately held broker-dealers avoid some PCAOB Title I audit requirements. To qualify, a firm would need to be "non-carrying" (no customer funds or carried accounts during the last fiscal year and no more than 150 registered persons), "privately held" (…
- Rules take effect after 180 days: mixed, low. If enacted, the bill would make its changes effective 180 days after enactment. The SEC and the PCAOB would then have up to 180 days after that effective date to finish any regulatory amendments needed to implement the Act. This delay would give agencies and firms time to prepare but would also pos…

## Related bills

- 119-hr-9237: Take Care of America’s Veterans Act
- 119-hr-6644: 21st Century ROAD to Housing Act
- 119-hres-1299: Providing for the concurrence by the House in the Senate amendment to H.R. 6644, with amendment.
- 119-hr-6955: Main Street Capital Access Act
- 119-hr-8398: Guidelines for Use, Access, and Responsible Disclosure of Financial Data Act
- 119-hr-471: Fix Our Forests Act

## Sources
- [119-hr-10477 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/10477)

## Related
- [119-hr-9237: Take Care of America’s Veterans Act](https://policyrisk.com/legislation/119-hr-9237)
- [119-hr-6644: 21st Century ROAD to Housing Act](https://policyrisk.com/legislation/119-hr-6644)
- [119-hres-1299: Providing for the concurrence by the House in the Senate amendment to H.R. 6644…](https://policyrisk.com/legislation/119-hres-1299)
- [119-hr-6955: Main Street Capital Access Act](https://policyrisk.com/legislation/119-hr-6955)
- [119-hr-8398: Guidelines for Use, Access, and Responsible Disclosure of Financial Data Act](https://policyrisk.com/legislation/119-hr-8398)
- [119-hr-471: Fix Our Forests Act](https://policyrisk.com/legislation/119-hr-471)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-10477 (as of 2026-10-04).