Vermont Society of Certified Public Accountants
News
House Committee Proposes Elimination of PCAOB
Apr 29, 2025 —Republicans on the House Financial Services Committee have proposed legislation that would eliminate the Public Company Accounting Oversight Board. Rules and processes currently overseen by the PCAOB would carry over to the Securities and Exchange Commission. The Committee is scheduled to consider the issue as part of the government funding bill on Wednesday.
The PCAOB was established in 2002 as part of the Public Company Accounting Reform and Investor Protection Act (the Sarbanes-Oxley Act).
The AICPA has released a statement about the proposal, which you can read here: https://www.aicpa-cima.com/news/article/aicpa-statement-on-proposed-changes-to-structure-of-the-public-company.
