FASB, PCAOB fee increases 'astounding,' says member.

• Author: Kelly, Ken
• Position: LETTERS TO THE EDITOR - Letter to the editor

I just received the 2010 bill for my company's fees to support the Financial Accounting Standards Board and Public Company Accounting Oversight Board. I was absolutely astounded and amazed that in the current troubled economic times that these fees could be allowed to increase so dramatically The PCAOB budget went up 13 percent and the FASB budget went up 18 percent.

Unfortunately, this is not a onetime instance; it appears to be a trend.

Over the past two years, the PCAOB budget has increased more than 30 percent and the FASB budget is up more than 40 percent.

In these difficult economic times where corporate America is reducing salaries, cutting benefits and by no means increasing headcount, why are these budgets allowed to increase at such rapid rates that appear unchecked?

I realize that the FASB has been given a mandate on its convergence project, and reduction of subscription fees due to the codification...