SEC Approves 2026 PCAOB Budget and Accounting Support Fee
The U.S. Securities and Exchange Commission (SEC) has approved the Public Company Accounting Oversight Board (PCAOB) budget for 2026, which outlines key funding initiatives to bolster audit quality and regulatory oversight in the accounting sector. The approved budget emphasizes enhanced resources for inspections and enforcement activities, aimed at ensuring compliance with auditing standards and improving investor protection.
Additionally, the SEC has established the Accounting Support Fee, which is crucial for financing PCAOB operations. This fee is assessed on public companies and aims to ensure that the PCAOB has the necessary resources to fulfill its mission effectively. By endorsing this budget and fee structure, the SEC underscores its commitment to maintaining high-quality audits and fostering transparency in financial reporting. The move is seen as a significant step in upholding the integrity of the capital markets, promoting investor confidence, and ensuring that auditors adhere to the highest professional standards.
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