US PCAOB To Undergo Another Shakeup

Last week, US Securities and Exchange Commission (SEC) Chair Paul Atkins began the process of replacing all five members of the Public Company Accounting Oversight Board (PCAOB), setting the stage for the third leadership overhaul at the audit regulator in under a decade, as reported by Bloomberg Tax.

The announcement came after Erica Williams, who chaired the PCAOB since 2022, stepped down earlier this month at Atkins’ request. Atkins, a longtime critic of the board’s approach under previous SEC leadership, said he is seeking new members who will restrain spending and avoid imposing “unnecessary costs” on the companies and broker-dealers that fund the PCAOB. Acting Chair George Botic, a former inspections director, has assumed the role in the interim, while the remaining Gensler-era board members will continue to serve unless or until replaced.