The Public Company Accounting Oversight Board has signaled through its 2011 budget that it is beefing up its enforcement staff to handle an increasing caseload. The board also signaled that public companies can expect a 5.4-percent increase in the support fee they will pay in 2011 to help fund the operations of the PCAOB.
With a slate of lame duck board members at the helm, the PCAOB has approved a five-year strategic plan and a 2011 fiscal year budget of $204.4 million. That represents an increase of 11.5 percent over the current year. Public companies would pay a support fee of $187.9 million, divided among them according to their market capitalization. That’s a 5.4-percent increase over the $178.1 million that was to be assessed under the 2010 budget.
