Board to Consider 2008 Budget
Washington, DC, November 14, 2007 – The Public Company Accounting Oversight Board has scheduled an open meeting for Monday, Nov.19, at 1:30 pm, in the Board’s open meeting room at 1666 K St. NW, Washington, DC.
The Board is scheduled to consider adoption of the PCAOB’s budget for the 2008 fiscal year.
Section 109(b) of the Sarbanes-Oxley Act of 2002 requires the Board to establish a budget for each fiscal year no later than one month prior to the commencement of that fiscal year. The Board’s fiscal year is the calendar year. If approved by the Board, the budget will be submitted to the Securities and Exchange Commission for approval, as required by Section 109(b) of the Act.
Pursuant to the Act, the Board’s budget will form the foundation for the Board’s 2008 assessment of accounting support fees on public companies.
The meeting will be open to the public and Webcast via a link on the PCAOB’s Web site (www.pcaobus.org) that will be made available the day of the meeting. The meeting also will be available via podcast later in the day.
Media Inquiries: Public Affairs, 202-207-9227
The PCAOB is a private-sector, nonprofit corporation, created by the Sarbanes-Oxley Act of 2002, to oversee the auditors of public companies in order to protect the interests of investors and further the public interest in the preparation of informative, fair, and independent audit reports.
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