WASHINGTON—The Securities and Exchange Commission voted 3-1 on Thursday to advance a proposal that would exempt public companies with less than $100 million in annual revenue from regular outside audits, part of a broader effort to entice more companies to go public. Under the plan, smaller public companies such as those in the health care, information technology and biotech industries would get a pass from outside audits of their systems for preventing accounting errors and fraud, easing rules put in place nearly two decades...

Source: Wall Street Journal May 09, 2019 14:26 UTC