The House has passed a bill that would provide whistleblower protection to accountants, auditors and others who know of accounting fraud by creating a program at the Public Company Accounting Oversight Board similar to the one at the Securities and Exchange Commission.
The PCAOB already has a Tip & Referral Center that allows whistleblowers to file a complaint or provide a tip or referral on potential violations of law or PCAOB rules. But this bill would take it farther.
The National Whistleblower Center, which supported the bill, noted that the legislation would strengthen the existing anonymity provision, as well as add an anti-retaliatory policy and establish a whistleblower rewards program. Get the details.