NEW YORK (April 28, 2025) -- The House Financial Services Committee has released draft language for a measure that would defund the Public Company Accounting Oversight Board (PCAOB) and transfer its activities to the Securities and Exchange Commission.

The transfer would occur within a year of the bill's enactment. The transferred duties would include the PCAOB’s inspections and enforcement activities involving firms that audit listed companies, as well as rulemaking and standard-setting activities.

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