Search Results for keywords:"Public Company Accounting Oversight Board"

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Search Results: keywords:"Public Company Accounting Oversight Board"

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  • 2024-30600 — Order Approving Public Company Accounting Oversight Board Budget and Annual Accounting Support Fee for Calendar Year 2025
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    Type:Notice
    Citation:89 FR 104594
    Reading Time:about 4 minutes

    The Securities and Exchange Commission (SEC) has approved the Public Company Accounting Oversight Board (PCAOB) budget and annual accounting support fee for 2025, in accordance with the Sarbanes-Oxley Act. The SEC reviewed the PCAOB's proposed budget, ensuring it aligns with recoverable expenses, and emphasized the importance of operational efficiency. The PCAOB is directed to maintain regular communications with the SEC regarding any budget adjustments and to submit a reduced spending plan due to sequestration cuts. The Budget Control Act of 2011 requires sequestration of $22.8 million for 2025, slightly reducing available funds for the PCAOB.

    Simple Explanation

    The government said "yes" to a big group's (PCAOB) plan for money they need in 2025 to keep an eye on other companies’ money matters. They also asked the group to spend a little less because some extra savings need to be made.

  • 2024-28148 — Public Company Accounting Oversight Board; Notice of Filing of Proposed Rules on Firm Reporting
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    Type:Notice
    Citation:89 FR 96712
    Reading Time:about 7 hours

    The Public Company Accounting Oversight Board (PCAOB) has proposed new rules requiring audit firms to disclose more information to improve transparency and oversight. These rules include reporting on financial and governance details, special events, and cybersecurity issues. The changes aim to enhance investor confidence and the PCAOB's regulatory functions. To ease the transition, the new requirements will be implemented in phases, with larger firms required to comply first.

    Simple Explanation

    The PCAOB wants companies that check big businesses' money books to share more information to help people trust them more. They're making new rules, like telling about money secrets and computer problems, and they'll start with the biggest companies first, so everyone knows what's going on.