【正文】 ns thereof, or other wise to carry out this Act, in order to protect investors, or to further the public interest。 (3) conduct inspections of registered public accounting firms, in accordance with section 104 and the rules of the Board。 ADMINISTRATIVE PROVISIONS. (a) ESTABLISHMENT OF BOARD.—There is established the Public Company Accounting Oversight Board, to oversee the audit of public panies that are subject to the securities laws, and related matters, in order to protect the interests of investors and further the public interest in the preparation of informative, accurate, and independent audit reports for panies the securities of which are sold to, and held by and for, public investors. The Board shall be a body corporate, operate as a nonprofit corporation, and have succession until dissolved by an Act of Congress. (b) STATUS.—The Board shall not be an agency or establishment of the United States Government, and, except as otherwise provided in this Act, shall be subject to, and have all the powers conferred upon a nonprofit corporation by, the District of Columbia Nonprofit Corporation Act. No member or person employed by, or agent for, the Board shall be deemed to be an officer or employee of or agent for the Federal Government by reason of such service. (c) DUTIES OF THE BOARD.—The Board shall, subject to action by the Commission under section 107, and once a determination is made by the Commission under subsection (d) of this section— (1) register public accounting firms that prepare audit reports for issuers, in accordance with section 102。 (2) the authority of the Commission to set standards for accounting or auditing practices or auditor independence, derived from other provisions of the securities laws or the rules or regulations thereunder, for purposes of the preparation and issuance of any audit report, or otherwise under applicable law。 and (D) in subsection (f), by inserting ‘‘ or the Public Company Accounting Oversight Board’’ after ‘‘ selfregulatory anization’’ each place that term appears. (3) CEASEANDDESIST PROCEEDINGS.—Section 21C(c)(2) of the Securities Exchange Act of 1934 (15 . 78u–3(c)(2)) is amended by inserting ‘‘ registered public accounting firm (as defined in section 2 of the SarbanesOxley Act of 2020),’’ after ‘‘ government securities dealer,’’ . (4) ENFORCEMENT BY FEDERAL BANKING AGENCIES.—Section 12(i) of the Securities Exchange Act of 1934 (15 . 78l(i)) is amended by— (A) striking ‘‘ sections 12,’’ each place it appears and inserting ‘‘ sections 10A(m), 12,’’ 。 (B) in subsection (d)(1), by inserting ‘‘ the rules of the Public Company Accounting Oversight Board, of which such person is a registered public accounting firm or a person associated with such a firm,’’ after ‘‘ is a participant,’’ 。 and (ii) are established or adopted by the Board under section 103(a), or are promulgated as rules of the Commission. (11) PUBLIC ACCOUNTING FIRM.—The term ‘‘ public accounting firm’’ means— (A) a proprietorship, partnership, incorporated association, corporation, limited liability pany, limited liability partnership, or other legal entity that is engaged in the practice of public accounting or preparing or issuing audit reports。 and (ii) relevant to audit reports for particular issuers, or dealt with in the quality control system of a particular registered public accounting firm。 or (ii) asserts that no such opinion can be expressed. (5) BOARD.—The term ‘‘ Board’’ means the Public Company Accounting Oversight Board established under section 101. (6) COMMISSION.—The term ‘‘ Commission’’ means the Securities and Exchange Commission. (7) ISSUER.—The term ‘‘ issuer’’ means an issuer (as defined in section 3 of the Securities Exchange Act of 1934 (15 . 78c)), the securities of which are registered under section 12 of that Act (15 . 78l), or that is required to file reports under section 15(d) (15 . 78o(d)), or that files or has filed a registration statement that has not yet bee effective under the Securities Act of 1933 (15 . 77a et seq.), and that it has not withdrawn. (8) NONAUDIT SERVICES.—The term ‘‘ nonaudit services’’ means any professional services provided to an issuer by a registered public accounting firm, other than those provided to an issuer in connection with an audit or a review of the financial statements of an issuer. (9) PERSON ASSOCIATED WITH A PUBLIC ACCOUNTING FIRM.— (A) IN GENERAL.—The terms ‘‘ person associated with a public accounting firm’’ (or with a ‘‘ registered public accounting firm’’ ) and ‘‘ associated person of a public accounting firm’’ (or of a ‘‘ registered public accounting firm’’ ) mean any individual proprietor, partner, share holder, principal, accountant, or other professional employee of a public accounting firm, or any other inde pendent contractor or entity that, in connection with the preparation or issuanc