SEC Approves 2019 PCAOB Budget and Accounting Support Fee

The Securities and Exchange Commission voted today to approve the 2019 budget of the Public Company Accounting Oversight Board (PCAOB) and the related annual accounting support fee. The 2019 PCAOB budget totals $273.7 million. The accounting support fee totals $262.9 million, of which $228.5 million will be assessed on public companies and $34.4 million will be assessed on broker-dealers. The accounting support fee approximates the PCAOB’s annual budget, with any differences attributable to certain timing differences, adjustments to the working capital reserve, and the potential underspending from the prior year budget being carried forward into the accounting support fee calculation.