Bloomberg Law
April 5, 2021, 8:45 AM

U.S. Auditors Face Tougher Scrutiny Under Biden’s SEC

Amanda Iacone
Amanda Iacone

Investor advocates are hoping that the Biden administration’s more muscular oversight of Wall Street, including pledges to expand climate risk reporting, will spread to the small regulator responsible for public company auditing.

The Public Company Accounting Oversight Board’s priorities need a fresh look, they say, after several years of what they call lax oversight at the regulator, which was established to protect investors from corporate fraud. Under the Trump administration’s guidance, the PCAOB swapped public meetings with investors for private sessions with directors and asset managers, closed fewer ...