The PCAOB’s 4-page public rationale for its $385 million budget request, which we have before us today, leaves many unanswered questions. Accordingly, I have a number of questions for Chair Williams and staff from the SEC’s Office of Chief Accountant, which oversees the PCAOB budget process. Among other things, we can approve or disapprove the budget and accounting support fee and the standards the PCAOB adopts. Does the unique nature of the SEC-PCAOB relationship lead to the expenditure of duplicative effort in overseeing audit firms? Nevertheless, I cannot support a budget and accounting support fee that are designed to support the PCAOB’s current approach to its mission.

Source: Wall Street Journal December 13, 2023 21:24 UTC