The Public Company Accounting Oversight Board has approved a budget for calendar year 2008 that predicts the board will outlay approximately $144.6 million, compared to $136.4 million in 2007.
The majority of expenses will be associated with hiring and retaining experienced auditors to conduct inspections of 1,800 registered public accounting firms. Non-personnel expenses such as rent and utilities, information technology, travel and other administrative costs make up the remainder of the board’s budget. The PCAOB expects to grow to a total headcount of 507 employees by the end of 2008.
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