MIL-OSI USA: PCAOB s Ballooning Budget | ForeignAffairs co nz foreignaffairs.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from foreignaffairs.co.nz Daily Mail and Mail on Sunday newspapers.
<p><span>The Public Company Accounting Oversight Board (“PCAOB”) is requesting $349.5 million for its 2023 budget and a $329.4 million accounting support fee to fund it.</span><span> Sarbanes-Oxley gave the Securities and Exchange Commission (“SEC”) responsibility for approving the PCAOB’s budget, and the associated accounting support fee levied on companies and SEC-registered broker-dealers to fund the budget.</span><span> I cannot support the PCAOB’s 2023 budget and accounting support fee, which—continuing the PCAOB’s budget expansion—are substantially higher than the 2022 numbers and may facilitate mission-creep at the PCAOB.</span></p>
Officials from the Public Company Accounting Oversight Board and the Financial Accounting Standards Board discussed their work on upcoming auditing and accounting standards as they adjust to changing agendas and expectations.