Republicans plan the United States Audit Regulator

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Republican legislators are planning to close the United States Audit Regulator, which was founded as a result of the Enron scandal more than two decades, as part of a reform package designed to deliver Donald Trump’s drainage agenda.

The proposal to eliminate the Independent Public Companies’ Accounting Supervisory Council was published on Friday by the leadership of the Chamber’s Financial Services Committee on Friday, for inclusion in the Congress of the Fiscal Bill and Giant Expenditure.

Beneath the Legislation ProjectA contributed business tax and runners of runners that finance the PCAOB is unpainted and that the responsibilities of the organization will be folded to the Securities and Values ​​Commission.

The PCAOB was created to oversee audit standards and regular inspections of companies that audit the US public companies after the collapse of Enron in 2001 on display in the previous self-regulation regime.

Accounting companies have been against the activist leadership of President Erica Williams, by which the agency imposed new standards and extracted record fines on application actions.

Any effort to eliminate the agency is likely to comply with the resistance of Democrats and may not receive the full guarantee of audit companies.

The Audit Quality Center, which represents larger companies, has requested that the agency be more sensitive In accounting companies, but they have stopped requesting their elimination.

Although PCAOB employees would have the opportunity to transfer their papers to the Sec, in many cases they should make payments for payments as the organization is not subject to government payments scales. Critics said that this movement would substantially disturb the audit inspection regime.

The proposal faces procedural obstacles. It will go to the Complete Chamber of Financial Services Committee for approval in the coming days. But if it will be included in the Tax and Expenditure Bill, known as a Reconciliation Bill, it will depend on the negotiations within the Republican Directorate in the House and the Senate and if it is considered a budget measure.