US PCAOB proposes $136 million 2007 budget
01 Dec 2006
The US Public Company Accounting Oversight Board has approved a budget of US$136.4 million for calendar year 2007, compared to $130.9 for 2006. The majority of the Board's outlays will be for personnel and related expenses to conduct inspections of registered public accounting firms.
To date, more than 1,700 public accounting firms have been registered by the Board, including approximately 750 firms based outside the United States. Firms with more than 100 public company audit clients must be inspected annually; firms with one to 100 public company audit clients must be inspected at least once every three years. The PCAOB expects to grow to a total headcount of 519 employees by year-end 2007, including approximately 250 inspections staff. This compares to an estimated 480 total and 230 inspections staff by the end of 2006. The budget is subject to US SEC approval. Click for:
- PCAOB Budget Summary (PDF 32k)
- PCAOB Press Release (PDF 57k)
