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US Senate bill targets PCAOB for 'political and ideological’ reasons, experts say

By Neil Roland ( June 5, 2025, 20:32 GMT | Insight) -- The US Senate budget reconciliation bill would fold the Public Company Accounting Oversight Board into the Securities and Exchange Commission for “political and ideological” rather than fiscal reasons, 46 experts said in a letter to senior lawmakers. “The PCAOB-SEC transfer proposal is an illusory budget solution,” the letter said. “The proposal does not represent genuine fiscal reform: it merely shifts regulatory authority from an independent organization to a federal agency with similar funding requirements and operational costs.”The US Senate budget reconciliation bill would fold the Public Company Accounting Oversight Board into the Securities and Exchange Commission for “political and ideological” rather than fiscal reasons, 46 experts said in a letter to senior lawmakers....

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