Under the recent budget proposal for the fiscal year 2021, the Trump administration has proposed...

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Accounting

Under the recent budget proposal for the fiscal year 2021, the Trump administration has proposed rolling up the U.S. audit regulator (i.e., the Public Company Accounting Oversight Board or PCAOB) into the Securities and Exchange Commission (SEC). The purpose of this transfer of authority is to eliminate duplication between the two regulators and reduce regulatory ambiguity. What are the costs and benefits of this proposal?

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