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SEC Greenlights $310M Budget, Larger Staff for Audit Board (1)

Dec. 15, 2021, 7:42 PMUpdated: Dec. 15, 2021, 10:04 PM

The Securities and Exchange Commission signed off on a 2022 spending plan for the the U.S. audit regulator that includes a fresh injection of funds to pay for standard setting and clearing a backlog of inspections.

The commission voted unanimously Wednesday to support the $310.3 million budget for the Public Company Accounting Oversight Board, which reflects an 8% boost over its current spending plan. The extra funding for 2022 will support up to 32 new staff positions across the agency.

“Finance is ultimately about trust. And the PCAOB I think has this critical role ensuring that the public company financial ...