Public Accounting Regulatory Act

[AI summary unavailable — showing source text] Public Accounting Regulatory Act - Requires the Securities and Exchange Commission (Commission) to establish a National Organization of Securities and Exchange Commission Accountancy (Organization). Requires each independent public accounting firm which furnishes audit reports with respect to any financial statement, report, or other document required to be filed with the Commission under any Federal securities law, and each principal in such a firm, to register with the Organization. Prohibits any firm or principal not registered from furnishing audit reports with respect to any such financial statement, report, or other document required to be filed with the Commission. Requires the Organization to assess and collect from each independent public accounting firm registered under this Act annual dues based upon each firm's annual revenues. Directs that such dues be used to permit the Organization to operate on a self-financing basis. Requires all records of the Organization to be available for public inspection during normal business hours, except for working papers and related files concerning the review or investigation of an independent public accounting firm under this Act. Req…