U.S. Audit Regulator Backtracks on Controversial Advisory Group

The U.S. audit regulator, under new leadership after its chairman was ousted, is halting its efforts to overhaul its advisory groups in response to criticism from investors and other stakeholders.

The Public Company Accounting Oversight Board will reconsider the structure and membership of the groups, including a recently created panel focused on standards, the board said Tuesday.

“Listening carefully to the feedback we have received and reflecting on our work in many areas, including our engagement with the investor community, I believe it is important to reassess our current path to ensure all stakeholders are represented at the table and ...