WASHINGTON, Jan 22 (Reuters) – Wall Street’s top regulator said Thursday it had approved funding cuts for the U.S. Public Company Accounting Oversight Board, shrinking the agency’s overall budget for 2026 by more than 9% from the prior year to $362.1 million, including a 52% cut to the agency chair’s compensation, according to a statement.
“The decrease in this year’s budget does not detract from the significance of the PCAOB’s mission, which remains crucial; rather, it underscores that fiscal discipline and regulatory effectiveness complement each other,” Paul Atkins, chair of the U.S. Securities and Exchange Commission, said in the statement.
(Reporting by Douglas Gillison in Washington; Editing by Chizu Nomiyama )
