On December 13, 2023, the SEC approved the PCAOB’s proposed 2024 budget and the related annual Accounting Support Fee (ASF). The proposed budget is $384.7 million, including funding for 946 positions. This represents a 2% increase in headcount over 2023. The budget includes a projected ASF of $358.8 million, comprised of $331 million for issuers and $27.8 million for broker-dealers.

In an SEC Open Commission Meeting on December 13, PCAOB Chair Erica Y. Williams reported that the projected ASF represents an increase compared to 2023 and that the projected median increase in fees to individual entities is $200.

Williams reported that the PCAOB plans to continue advancing the goals set forward in its 2022-2026 Strategic Plan, which include modernizing standards, enhancing inspections, strengthening enforcement, and improving organizational effectiveness.

The SEC press release can be found here, and PCAOB Chair William’s remarks can be found here.