Trump’s regulatory rollback puts $400mn in US audit fees at risk

The Trump administration's push to ease post-Enron regulations could jeopardize $400 million in annual auditing fees for major accounting firms, as the SEC considers loosening these stringent rules. These firms have thrived under the current framework, which demands rigorous audits to prevent financial scandals. The potential rollback has sparked fierce opposition from the accounting industry, which argues that less stringent rules could undermine investor confidence and financial market stability.