PCAOB Proposes $259.9 Million Budget

By:
Chris Gaetano
Published Date:
Nov 17, 2017
STORY NO.6

The Public Company Accounting Oversight Board proposed a slightly slimmed down budget of $259.9 million, about 3.2 percent less than last year's budget. The total accounting support fee for 2018 is $235.3 million, which is $32.6 million less than the support fee in 2017. Approximately $205.4 million of the 2018 accounting support fee is allocated to public companies and $29.9 million is allocated to brokers and dealers.

"The 2018 budget reflects a diligent and thoughtful review of the resources necessary for the PCAOB to continue protecting investors through audit oversight," said PCAOB Chairman James R. Doty.

Approval for the proposed budget ultimately lies with the Securities and Exchange Commission. 

The board also approved its 2017-2021 strategic plan, which will guide PCAOB programs and operations. The strategic plan, and a summary of the 2018 budget, will be available on the PCAOB website once the budget is submitted to the SEC. 


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