Streamlining Public Company Accounting Oversight Act

HR 8228 transfers the Public Company Accounting Oversight Board (PCAOB) to become the "Office of Public Accounting Oversight" within the Securities and Exchange Commission's (SEC) Office of the Chief Accountant. The bill renames the oversight body, repeals specific Sarbanes-Oxley sections, and shifts responsibilities like audit firm inspections and disciplinary procedures to the SEC. This change takes effect two years after enactment, directly affecting publicly traded companies and their auditors by centralizing oversight under the SEC.