US SEC’s Atkins acknowledges $300 million shortfall in absorbing PCAOB

By Neil Roland ( June 4, 2025, 21:08 GMT | Insight) -- US Securities and Exchange Commission Chair Paul Atkins acknowledged a $300 million budget shortfall in absorbing the Public Company Accounting Oversight Board if the independent audit overseer is folded into the SEC but said the commission “won’t miss a beat.” Under questioning from Maryland Senator Chris Van Hollen, Atkins said the SEC has $100 million in savings from voluntary employee departures in recent months. But, he conceded, the PCAOB budget is $400 million. “Should that be folded into us, we'll be back to you all for the proper resources to carry it forward, so we won't miss a beat,” Atkins told the Senate Appropriations subcommittee.US Securities and Exchange Commission Chair Paul Atkins acknowledged a $300 million shortfall in absorbing the Public Company Accounting Oversight Board if the independent audit overseer is folded into the SEC, but said the commission “won’t miss a beat.”...