US companies get first oversight invoices
The Public Company Accounting Oversight Board will soon be sending out invoices to more than 8,500 US organisations for fees payable to support its $68m (£42m) oversight operation.
About 5,200 listed companies and 3,300 investment companies will be invoiced with two-thirds paying $1,000 or less, while the majority of the costs will be carried by the biggest companies.
Publicly traded companies with market capitalisation of $25m or more and investment companies with a market cap or average monthly net asset value of $250m or more will fund the PCAOB, under rules introduced by the Sarbanes-Oxley Act of 2002.
Fees must be paid by organisations within 30 days of being notified.