PCAOB Approves Five-Year Strategic Plan and 2019 Budget

WASHINGTON, D.C., Nov. 15, 2018

The Public Company Accounting Oversight Board today approved its 2018-2022 strategic plan and fiscal year 2019 budget in an open meeting. The strategic plan serves as the foundation for the budget and guides the PCAOB's programs and operations.

"The Board's adoption of the strategic plan and accompanying budget paves the way for fulfilling our shared vision for the PCAOB," said PCAOB Chairman William D. Duhnke. "I look forward to working with my fellow Board members and our talented staff to achieve the goals and objectives we've set forth."

The PCAOB's 2018-2022 strategic plan reflects five new values and five core strategies that the Board will advance in the coming years to effectively fulfill its mission. Those values and strategies seek to implement the Board's vision to be a trusted leader that promotes high quality auditing through forward-looking, responsive, and innovative oversight.

The 2019 budget includes core investments in personnel, processes, and technology, and will provide the Board with the resources necessary to make progress toward implementing its strategic vision. The budget is $273.7 million and provides funding for up to 838 positions.

The PCAOB budget is subject to approval by the Securities and Exchange Commission. The 2019 budget and the 2018-2022 strategic plan are available on the PCAOB website.