The Public Company Accounting Oversight Board approved a $136.4 million budget for the 2007 calendar year, an increase of 4.2 percent over last year.Under the Sarbanes-Oxley Act, which created the accounting regulator, the board’s budget, less registration fees collected from accounting firms throughout 2006, form the basis for assessment of accounting support fees in 2007. The board will agreed to tap into an excess of its working capital reserve fund to reduce the overall accounting support fee by $10 million next year.
The 2007 budget projects that the board will assess $122.4 million in accounting support fees.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access