Title 15, Commerce and TradeRelease 119-102
§7234 Considerations by Appropriate State Regulatory Authorities
Title 15 › CHAPTER 98 — PUBLIC COMPANY ACCOUNTING REFORM AND CORPORATE RESPONSIBILITY › SUBCHAPTER II — AUDITOR INDEPENDENCE › § 7234
Summary
State regulators must set standards for supervising unregistered accounting firms and their people based on the size and type of the firms and their clients; Board standards don't automatically apply to small and medium 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
Aug 21, 2026
Release point: 119-102