Republican lawmakers in the US have proposed shutting down the Public Company Accounting Oversight Board (PCAOB) as part of President Donald Trump's deregulatory agenda, according to the Financial Times.
A draft bill released by the House Committee on Financial Services proposes folding the PCAOB's responsibilities into the Securities and Exchange Commission (SEC) and scrapping the levy that funds it. Created after the collapse of Enron, the PCAOB oversees audit standards and firm inspections.
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