USA: House of Representatives backs Bill to prohibit PCAOB from introducing mandatory audit firm rotation

The House of Representatives yesterday voted, by 321 to 62, to pass a Bill to prohibit the Public Company Accounting Oversight Board from requiring public companies to use specific auditors or require the use of different auditors on a rotating basis: see here. Further information about the Bill, which now goes to the Senate for consideration, is available here. In 2011 the PCAOB issued a concept release in which views were sought on the introduction of mandatory rotation: see here.