September 23, 2020

The PCAOB Is Trying to Give Itself a Small Raise

And by "small" I mean $12.8 million.

The Public Company Accounting Oversight Board today approved its 2014 fiscal-year budget of approximately $258.4 million and its 2013-2017 strategic plan.

The budget is $12.8 million, or 5 percent, above the Board's 2013 budget of $245.6 million.

The Board also approved its strategic plan for 2013-2017 to serve as the foundation for the 2014 budget, and to guide the PCAOB's programs and operations.

"We are happy to say that we made substantial progress on the six near-term priorities we outlined this time last year. For the 2013-2017 plan approved today, we added new objectives and strategies relating to these priorities," said PCAOB Chairman James R. Doty.

"The $258 million budget supports the strategic plan, and properly reflects the Board's funding needs to maintain quality programs, effective oversight, and dedicated people as we seek to fulfill the Board's investor protection mission," Chairman Doty said.

The budget still needs to approved by the SEC but we can't see why they'd diss the PCAOB like that, it's totes money well spent.

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