H.R. 1641 · 109th Congress
Competitiveness Enhancement and Opportunity Act of 2005
- Stage
- In committee
- Sponsor
- Jeff Flake
- Introduced
- 2005-04-14
- Latest action
- 2005-05-19 · Referred to the Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises.
Summary
Competitiveness Enhancement and Opportunity Act of 2005 - Amends the Sarbanes-Oxley Act of 2002 with respect to inclusion in the annual financial report of a securities issuer of an assessment of the effectiveness of its internal controls and procedures. Makes such inclusion voluntary rather than mandatory by changing the Securities and Exchange Commission's authority to prescribe rules for the annual report to make inclusion of an internal control report something permitted instead of (as currently) required.