The US audit regulator has withdrawn a pair of disclosure rules widely opposed by the accounting industry to ensure any final proposals would garner the support from a starkly different SEC under the Trump administration.
The Public Company Accounting Oversight Board said late Tuesday that it had pulled the projects after discussions with the Securities and Exchange Commission, which must approve any PCAOB rules before they could take effect. Both remain on the board’s rule-writing agenda.
“The PCAOB looks forward to continuing to work with the Commission and all stakeholders to protect investors and increase transparency,” the board said ...