The Republican Party plans to abolish the US auditing regulatory agency PCAOB

According to the Financial Times, on Friday evening local time, the leadership of the US House Financial Services Committee announced a proposal to abolish the independent Public Company Accounting Oversight Board (PCAOB), which is intended to be included in the large tax and spending bill currently under review in Congress. According to the draft legislation, a tax levied on listed companies and broker dealers to fund PCAOB will be eliminated, and the agency's responsibilities will be incorporated into the US Securities and Exchange Commission. (Golden Ten)