The Public Company Accounting Oversight Board has revised its budget for 2005, reducing its projected expenditures by some $15.4 million by reducing its hiring projections, reducing travel and consulting fees, and delaying implementation of information technology projects.
The Board had approved a budget in October assuming $152.5 million in revenue; however, nine weeks later the PCAOB said it was hiring new staff members more slowly than projected, and would begin 2005 with a lower headcount than expected.
