The Commission voted today to approve the 2026 budget for the Public Company Accounting Oversight Board (the “PCAOB” or “Board”) and the related accounting support fee. The 2026 PCAOB budget totals $362.1 million, reflecting a 9.4 percent ($37.6 million) decrease from the prior year. I support this budget and recognize its importance as an initial step in refocusing the PCAOB on its core mission. […]
The first concern was the high salaries of the PCAOB Board members, prompting me to reject the budget that year. I highlighted then that “[t]he SEC can and must provide objective oversight with respect to the Board’s salaries. If we do not oversee those, nobody else can.”This budget, I believe, addresses this first concern, reducing the chairman’s and other Board members’ compensation by 52 percent and 42 percent, respectively. This action demonstrates a clear commitment to aligning PCAOB Board pay more closely with the ethos of public service that reinforces trust, demonstrates fiscal responsibility, and affirms the honor of stewardship over the capital markets.
Source: Statement on PCAOB 2026 Budget