Alerts

PCAOB Strategic Goals and Budget Foreshadow Tougher Enforcement Agenda

December 8, 2009

As attention focuses on this week’s oral argument at the Supreme Court concerning the constitutionality of the Public Company Accounting Oversight Board (“PCAOB” or the “Board”), the PCAOB recently approved a five-year strategic plan and a 2010 budget (subject to approval by the SEC). Taken together, these actions reveal that the Board is planning for an expanded mandate that seems likely to result in more enforcement referrals and investigations, especially as relates to the Big Four accounting firms.