Clash Over PCAOB Budget Foreshadows Tough Road Ahead for Audit Overseer

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The Democrats on the SEC didn’t seem too thrilled about having to sit through a 90-minute session this morning for what could have been a pretty routine approval of next year’s $400 million PCAOB budget. But the Republican commissioners had a lot of points they wanted to make about the accounting board’s aggressive rule-writing and enforcement during th…