Beyond harming the competitive position of American public companies, I have heard from innovative private companies in Virginia's 5th District, including many of our research and development bio-tech firms, that mandatory audit firm rotation would create a further disincentive to go public in light of the increased costs, and already complex regulatory scheme.
Robert Hurt discusses the negative impact of mandatory audit firm rotation on public companies.
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At a time when unemployment remains high, and my constituents are struggling to find employment, it is incumbent upon us to do everything we can to reduce the regulatory burden on such entities that are so vital to job creation in…
I believe this hearing is an important opportunity to allow Members to explore how it is that our equity markets have evolved since that time and potentially where they are headed in the future.
I thank you for holding this hearing, and I thank the witnesses for appearing today.
One of the most important functions of this subcommittee is to promote initiatives to increase access to capital for our small businesses and startups.
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