Congressman Bill Huizenga Proposes Dismantling PCAOB, Replacing it with SEC Office
Congressman Bill Huizenga has repeatedly introduced legislation aimed at dismantling the Public Company Accounting Oversight Board (PCAOB) and replacing it with an Office of Public Accounting Oversight under the Securities and Exchange Commission (SEC). His proposals, first introduced in October 2021 and again in May 2024 as the Streamlining Public Company Oversight Act, were later incorporated into H.R. 1, the One Big Beautiful Bill Act (OBBBA) of 2025. Although the specific section concerning the PCAOB was removed from the OBBBA before its passage, the debate over the PCAOB's existence continues. Huizenga argues that the PCAOB is not truly independent and that its functions could be more efficiently managed directly by the SEC, thereby streamlining government operations and improving administrative efficiency. This perspective gained traction following the SEC's 2021 decision to remove PCAOB Chairman William Duhnke and solicit candidates for all five board positions, which critics cited as evidence of po... 
