SEC Approves 2024 PCAOB Budget and Accounting Support Fee

The Securities and Exchange Commission today approved the 2024 budget of the Public Company Accounting Oversight Board (PCAOB) and the related annual accounting support fee. The 2024 PCAOB budget totals $384.7 million, and the accounting support fee totals $358.8 million, of which $331.0 million will be assessed on public company issuers and $27.8 million will be assessed on registered broker-dealers. “A critical feature of our capital markets is that investors rely on public company disclosures, including their financial results. Essential to investors’ trust in the reliability of such financial information is an independent audit of issuers’ financial statements,” said SEC Chair Gary Gensler.