The US audit board adopted an operating budget for next year that slashes its funding by 9% and extracts steep salary cuts for board members and other top staff.
The Public Company Accounting Oversight Board on Friday unanimously approved a spending plan for 2026 that would roll back funding to $362.1 million, cut the pay of its five members by roughly half, and shrink its workforce. The reductions are the latest setback for a regulatory body that survived an elimination bid in Congress and remains in limbo amid its recent leadership overhaul.
The Securities and Exchange Commission, which oversees the ...