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Former SEC Official Pans Trump Proposal to Fold Audit Regulator

Feb. 27, 2020, 7:10 PM

A chorus of financial reporting experts, including a former top Securities and Exchange Commission official, on Wednesday decried a White House proposal to roll the work of the U.S. audit regulator into the SEC.

President Donald Trump’s fiscal year 2021 budget proposal, released earlier this month, called for eliminating the Public Company Accounting Oversight Board and fold its duties into the SEC by 2022. The move would save $580 million over nine years.

“I don’t think it makes a lot of sense to me,” said Keith Higgins, chair of the securities and governance practice at Ropes &...

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