The House today defeated an amendment that would establish a Federal Bureau of Audits to conduct all audits of publicly traded corporations. The amendment, introduced by Rep. Dennis Kucinich, D-Ohio, was defeated by a 39-381 vote. It would have amended the Corporate and Auditing Accountability and Responsibility Act, which is pending a vote by the full House. That bill, introduced by Rep. Michael G. Oxley, R-Ohio, would, among other features, prohibit auditing firms from performing many non-audit, or consulting, services for the public companies they audit. Mr. Kucinichs proposal still survives as a separate bill, pending in the House subcommittee on capital markets, insurance and government-sponsored enterprises.