SEC Approves 2018 PCAOB Budget and Accounting Support Fee
In its recently issued order, the Securities and Exchange Commission (“SEC”) approved the Public Company Accounting Oversight Board’s (“PCAOB”) budget and annual accounting support fee for 2018. This year’s PCAOB budget is approximately $259.9 million, which is a 3.2 percent (or $8.6 million) drop from the 2017 budget. The PCAOB approved its 2018 fiscal-year budget in November.
The order states that due to budget control requirements, the PCAOB budgeted expenses requires a slight reduction.