From Yahoo Finance: 2025-04-28 05:21:00

Republican lawmakers in the US are considering abolishing the PCAOB, the independent audit regulator established post-Enron scandal. The plan is part of Trump’s deregulatory agenda and includes transferring responsibilities to the SEC. Critics worry about disrupting audit-firm inspections and affecting audit quality. The proposal faces procedural challenges in Congress.

The draft legislation aims to eliminate a levy on listed companies that funds the PCAOB, potentially reducing the budget of the Consumer Financial Protection Bureau. The plan’s inclusion in the reconciliation bill hinges on Republican negotiations and budgetary measures. Advocates stress the importance of an independent audit regulator for strong capital markets and audit quality.



Read more at Yahoo Finance: Republican proposal to abolish PCAOB sparks debate