2017 PCAOB Budget and Accounting Support Fee Approved

Last month, the Securities and Exchange Commission approved the Public Company Accounting Oversight Board’s (“PCAOB”) budget and accounting support fee for 2017. This year, the PCAOB’s budget will be $268.5 million and funded by an accounting support fee collection equaling $268 million. The budget is a four-percent increase from 2016 ($257.7 million). Additionally, 2017’s accounting support fee is a six-percent jump from the 2016 fee ($253.3 million).