Washington (April 25, 2002) -- In the wake of the Enron disaster, the House late Wednesday adopted legislation to tighten oversight of the accounting profession and toughen corporate disclosure rules.

The legislation, H.R. 3763, "Corporate and Auditing Accountability, Responsibility, and Transparency Act of 2002," passed in a 334-90 House vote, would establish a new regulatory body to oversee the accounting profession and discipline auditors, replacing the current system of self-regulation.

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