The PCAOB Wants an Increase in its Allowance

Thursday, December 03, 2009 , , , , , 2 Comments

Compliance Week:

Amid some uncertainty about its own future, the Public Company Accounting Oversight Board approved a five-year strategic plan and an increased budget for 2010 calling for more staff to beef up audit inspections and enforcement.

The PCAOB anticipates a budget of $183.3 million for 2010, a 16-percent increase over the 2009 budget to cover additional staffing in inspections, enforcement, the Chief Auditor’s office, and the Office of Research & Analysis. The board expects overall headcount to reach 636 by the end of 2010 compared with the 576 expected to be on staff at the end of 2009. The budget must be approved by the Securities and Exchange Commission, which oversees the PCAOB. The PCAOB said it will make the budget available publicly after it is approved by the SEC.

“Following a year when investors incurred tremendous losses due to the financial crisis on Wall Street and in the housing markets, investors are looking to regulators, including the PCAOB, for reassurance about the quality of financial reporting in the marketplace and to see that their interests are safeguarded,” said PCAOB member Steve Harris in a prepared statement.

Acting Chairman Dan Goelzer noted the board is dealing with an increasing number of litigated enforcement proceedings, although those proceedings remain private until appeals are exhausted. “The board notes in its strategic plan that the privacy provisions “provide an incentive for respondents to litigate disciplinary actions, which in turn could result in an inefficient use of PCAOB resources and delay important information about disciplinary sanctions.”

Because Jr Deputy Accountant is a helpful motherfucker, she's pulled the following "How to Ask For an Increase in Allowance" article from wikihow for the PCAOB's reading pleasure. Read and learn, fuckers.

  1. Prepare some kind of documentation explaining how much allowance you receive, what you spend it on, what you need to buy, and how much allowance you need. In addition to spending, your budget should include money to donate to a good cause (like a chartity, money to save for something special (like a new bike) and money to invest for the future (like a college education).
  2. Accept more responsibility. Along with asking for money, ask for more responsibility over your expenses. If you are willing to pay for your clothes, school supplies, snacks, music, creams, and gifts for your friends, then you can ask for a considerable sum of money.
  3. Choose a time when your parents are feeling generally pleased with you: make your bed, do your homework, ace a test, help around house, etc. Consider preparing a meal. They will probably figure out you are up to something, but they might appreciate the gesture anyway. If you know enough about their own budgets, you might choose a time just after they have been paid or when you happen to know they aren't behind on any of their utility bills.
  4. Negotiate with your parents. Explain to them exactly what you want to buy and why you don't have enough right now. . Emphasize how this will benefit them. Maybe this way, they won't have to go to the mall with you anymore.
  5. Write the agreement. At least take some notes. Include lists of what they will pay for (soccer equipment, voice lessons, Italian tutor, plane tickets, meals, etc) and what you will pay for (clothes, shoes, CDs, books, make-up, etc).

So, PCAOB, why exactly do you need an increase in your allowance? What have you done thus far to earn what you've cost to date?

A 16% increase?! FOR WHAT?!?!?!?!

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.


What a waste of money. Kill this beast. I can say one good thing about the PCAOB. It's only useless, unlike the Fed which is dangerous.


Perfectly said, Pop.

Although I might have added "TOTALLY" before "useless" just for effect.