Audit Board Moves to Appease Investors Ahead of Bigger Overhaul

It didn’t take long for the Securities and Exchange Commission under the Biden administration to put its stamp on the board that regulates U.S. audits.

The Public Company Accounting Oversight Board is still months away from installing a slate of new regulators, but its temporary leaders are already taking steps to mollify investors who felt overlooked by the last administration.

Last week, the regulator backtracked on plans to create a controversial advisory panel that seemed to leave out groups that represent investors and analysts. The panel’s creation in March was a tipping point for the groups, unleashing a series of ...