A divided SEC approved the 2025 budget for the US audit board Wednesday, backing the smallest increase in four years for the regulator charged with inspecting audit firms and penalizing those who fall short.
The Securities and Exchange Commission voted 3-2 along party lines to support the $399.7 million spending plan for the Public Company Accounting Oversight Board. The budget, which the board adopted in November, maintains current staffing levels and would also pay for upgrading technology used by PCAOB’s staff.
“It’s every bit as important now as it was 22 years ago and I think it’s every bit as ...
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