Issa Statement on PCAOB’s Cost Benefit Analysis Guidance

Published: May 15, 2014

WASHINGTON – House Oversight and Government Reform Committee Chairman Darrell Issa (R-Calif.) today released the following statement on Public Company Accounting Oversight Board (PCAOB)’s announcement on the newly issued staff guidance on economic analysis.

 “Two years ago, Rep. McHenry and I began requesting that regulatory organizations strengthen their rulemaking processes and encouraging these agencies to ensure that proper cost benefits analysis was conducted before the process was concluded, as the law requires. In response to the Committee’s oversight of the PCAOB’s economic analysis, I applaud the PCAOB’s decision today to release mandatory staff guidance on the use of economic analysis.  Robust economic analysis is key to ensuring that rules and regulations are rational, well-tailored, and appropriate.  Faithful adherence to this guidance will greatly assist the PCAOB in its rulemaking and standard-setting.”