The U.S. Securities and Exchange Commission approved the Public Company Accounting Oversight Board’s (PCAOB) 2026 budget and the related accounting support fee, setting total PCAOB spending at USD 362.1 million, a 9.4% (USD 37.6 million) decrease from the prior year. The SEC framed the approval as an initial step toward refocusing the PCAOB on its core mission while maintaining audit quality. The statement emphasized the SEC’s budget oversight role given the PCAOB’s authority over audit firms and the need to ensure investor benefits without excessive burdens on businesses. It highlighted responsible stewardship of the accounting support fee, described as the PCAOB’s primary funding source that functions as a tax on public companies and broker-dealers, and called for transparency around material investments. The approved budget also reduces compensation for the PCAOB chair by 52% and for other board members by 42%. Looking ahead, the SEC identified development of an updated PCAOB long-term strategic plan as a key 2026 priority, intended to align growth and budgeting with the PCAOB’s statutory role and to include clear objectives and measurable benchmarks.
U.S. Securities & Exchange Commission 2026-01-22
U.S. Securities and Exchange Commission approves PCAOB 2026 budget of USD 362.1 million with a 9.4% cut and board pay reductions
The U.S. Securities and Exchange Commission approved the Public Company Accounting Oversight Board’s 2026 budget of USD 362.1 million, a 9.4% decrease from the previous year, emphasizing a focus on audit quality and responsible fee stewardship. The SEC also highlighted the need for an updated PCAOB strategic plan to align with its statutory role, including clear objectives and measurable benchmarks.