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SEC approves the PCAOB’s 2014 budget and accounting support fee

  • SEC (US Securities and Exchange Commission) Image
  • PCAOB (US Public Company Accounting Oversight Board) Image

Feb 06, 2014

At its February 5, 2014, public meeting, the SEC reviewed and approved the PCAOB’s 2014 annual budget and accounting support fee. As mandated by the Sarbanes-Oxley Act, the SEC is required to approve the PCAOB’s budget and accounting support fee annually.

The PCAOB, which approved its 2014 budget on November 25, 2013, requested funding of approximately $258.4 million. The PCAOB’s 2014 budget represents a five percent increase from its 2013 budget of $245.6 million. The budget will be used to support the programs and operations found in its 20132017 Strategic Plan.

In their prepared comments, several SEC commissioners cited the continued importance of the PCAOB for investors and the accounting profession, but called on the PCAOB and accounting profession to continue to improve how they protect the investing public.

For more information, see the following speeches on the SEC’s Web site:

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