PCAOB Approves 2021 Budget, Reaffirms Strategic Direction
The Public Company Accounting Oversight Board (PCAOB) today approved its fiscal year 2021 budget and five-year strategic plan during an open meeting. The Board's strategic plan guides the PCAOB's programs and operations and serves as the foundation for the budget.
"The PCAOB has made significant progress in executing our strategic plan and advancing our vision for the organization," said PCAOB Chairman William D. Duhnke III. “I look forward to working with my fellow Board members and our dedicated staff as we continue to strive for forward-looking, responsive, and innovative oversight."
The PCAOB's 2021 budget—which includes investments in personnel, processes, and technology—will provide the Board with the resources necessary to continue to implement its strategic plan. The budget is $287.3 million, which would fund 859 positions. It is subject to approval by the U.S. Securities and Exchange Commission.
An audio recording of today’s open meeting, which was held virtually due to the ongoing COVID-19 pandemic, will be available on the PCAOB website.
About the PCAOB
The PCAOB is a nonprofit corporation established by Congress to oversee the audits of public companies in order to protect investors and the public interest by promoting informative, accurate, and independent audit reports. The PCAOB also oversees the audits of brokers and dealers, including compliance reports filed pursuant to federal securities laws, to promote investor protection.
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