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PCAOB reduces budget, accounting support fee for 2018

Tammy Whitehouse | November 17, 2017

The regulator with a reputation for rigorous inspections of public company audit files is reducing its budget and the fee companies must pay to support the process.

The Public Company Accounting Oversight Board has approved a 2018 fiscal-year budget that shaved $8.6 million or 3.2 percent off its 2017 budget. The $259.9 million package for the coming year reduces the “accounting support fee” that public companies and broker-dealers pay to fund the activities of the PCAOB by a total of $32.6 million.

The total accounting support fee for 2018 will be $235.4 million; of that amount $205.4 million is allocated to pubic companies and the remainder to broker-dealers. The PCAOB regulates nearly 2,000 different registered audit firms, nearly half of which are located outside the United States. Almost 500 of those firms audit brokers and dealers rather than public companies.

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