In February the White House made a proposal to have the Public Company Accounting Oversight Board (PCAOB) that was created by the Sarbanes-Oxley Act to be absorbed into the SEC to save on costs. Arthur Levitt, a famous prior Chairman of the SEC during the time of the Enron crisis disagrees. Read his Opinion Article in the WSJ Without an Independent Watchdog, Who Will Audit the Auditors?
(Links to an external site.)https://www.becker.com/blog/accounting/white-house-considers-merging-pcaob-with-sec
Instructions: Read through the above two articles and comment on your agreement or disagreement of this proposal. I just want you to be exposed to this issue which if enacted will affect many of your accounting careers.
PLEASE NO LESS THAN 250 WORDS