Sarbanes-oxley act of 2002

25 Sec. 
106 
SARBANES-OXLEY ACT OF 2002 
(2) E
XPEDITED PROCEDURES
.—The Commission shall estab-
lish for appropriate cases an expedited procedure for consider-
ation and determination of the question of the duration of a 
stay pending review of any disciplinary action of the Board 
under this subsection. 
SEC. 106. ø15 U.S.C. 7216¿ FOREIGN PUBLIC ACCOUNTING FIRMS. 
(a) A
PPLICABILITY TO
C
ERTAIN
F
OREIGN
F
IRMS
.— 
(1) I
N GENERAL
.—Any foreign public accounting firm that 
prepares or furnishes an audit report with respect to any 
issuer, broker, or dealer, shall be subject to this Act and the 
rules of the Board and the Commission issued under this Act, 
in the same manner and to the same extent as a public ac-
counting firm that is organized and operates under the laws of 
the United States or any State, except that registration pursu-
ant to section 102 shall not by itself provide a basis for sub-
jecting such a foreign public accounting firm to the jurisdiction 
of the Federal or State courts, other than with respect to con-
troversies between such firms and the Board. 
(2) B
OARD AUTHORITY
.—The Board may, by rule, determine 
that a foreign public accounting firm (or a class of such firms) 
that does not issue audit reports nonetheless plays such a sub-
stantial role in the preparation and furnishing of such reports 
for particular issuers, brokers, or dealers, that it is necessary 
or appropriate, in light of the purposes of this Act and in the 
public interest or for the protection of investors, that such firm 
(or class of firms) should be treated as a public accounting firm 
(or firms) for purposes of registration under, and oversight by 
the Board in accordance with, this title. 
(b) P
RODUCTION OF
D
OCUMENTS
.— 
(1) P
RODUCTION BY FOREIGN FIRMS
.—If a foreign public ac-
counting firm performs material services upon which a reg-
istered public accounting firm relies in the conduct of an audit 
or interim review, issues an audit report, performs audit work, 
or conducts interim reviews, the foreign public accounting firm 
shall— 
(A) produce the audit work papers of the foreign public 
accounting firm and all other documents of the firm re-
lated to any such audit work or interim review to the Com-
mission or the Board, upon request of the Commission or 
the Board; and 
(B) be subject to the jurisdiction of the courts of the 
United States for purposes of enforcement of any request 
for such documents. 
(2) O
THER PRODUCTION
.—Any registered public accounting 
firm that relies, in whole or in part, on the work of a foreign 
public accounting firm in issuing an audit report, performing 
audit work, or conducting an interim review, shall— 
(A) produce the audit work papers of the foreign public 
accounting firm and all other documents related to any 
such work in response to a request for production by the 
Commission or the Board; and 
(B) secure the agreement of any foreign public ac-
counting firm to such production, as a condition of the reli-
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December 21, 2020 
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As Amended Through P.L. 116-222, Enacted December 18, 2020

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