In a January 22 statement, SEC Chair Paul Atkins announced that he is cutting the Public Company Accounting Oversight Board’s (PCAOB) $362 million budget by 9.4%, a reduction of $37.6 million from last year’s allotment.

The U.K. Department of Business and Trade announced January 20 that it changed course on a longstanding audit reform agenda— enacted in the aftermath of high-profile accounting problems at major companies—after concerns raised by large companies about undue cost burdens. Instead, the government will opt to strengthen the legal powers of existing financial regulators.

Disney reversed course and sent a letter to the SEC and its shareholders January 19 informing them it would be including in its proxy statement a shareholder proposal asking the company to commission an independent review of its disability access service (DAS), conducted by a qualified third party.