Washington, D.C., July 9, 2004
The Public Company Accounting Oversight Board today announced the participants in a July 14, 2004, roundtable meeting to discuss issues relating to tax services and auditor independence.
Participants include representatives from accounting firms, public companies, investors and regulators.
The meeting will be held from 10 a.m. to 4:30 p.m. in the Presidential Room at the Capital Hilton, at 1001 16th St., N.W., in Washington, D.C.
The Sarbanes-Oxley Act of 2002 authorized the PCAOB to establish rules and standards for auditor independence. In the exercise of its new responsibilities, the Board has determined that it is appropriate at this time to consider the impact of tax services on auditor independence. The purpose of this roundtable is to review existing tax services provided by auditors to public company audit clients and to discuss the effect, if any, these services have on auditor independence.
The roundtable will cover a number of topics, including whether an auditor's engagement to provide various types of tax services could affect the auditor's independence, and if there are any overarching principles that could provide guidance in considering the impact of these services on independence. In addition, the roundtable will discuss whether there are any specific factors that audit committees should consider in evaluating an engagement for an auditor to provide tax services, and whether any ethical issues are raised by auditors' involvement in certain tax services.
The meeting is open to the public and will be webcast at www.pcaobus.org. The auditor independence roundtable briefing paper is available under the Standards section of the PCAOB Web site.
The archived webcast of the roundtable can be found here.
AFL-CIODamon SilversAssociate General Counsel
American Bankers AssociationRichard AngeloneSenior Vice President and Director of Corporate Tax
American Institute of Certified Public AccountantsTom OchsenschlagerVice President of Taxation
CALPERSMark AnsonChief Investment Officer
Chartered Financial Analyst InstitutePatricia WaltersSenior Vice President, Professional Standards & Advocacy
Colorado State UniversityLynn TurnerProfessor of Accounting
Consumer Federation of AmericaBarbara RoperDirector of Investor Protection
Council of Institutional InvestorsElliot SchwartzDirector of Research
Crowe Chizek and Company LLCJames L. BrownExecutive
Deloitte Scott BaylessPartner
Dixon HughesWalter McNairyPartner
Ernst & Young LLPMark WeinbergerVice Chair – Tax Services
Financial Executives InternationalColleen SaytherPresident & CEO
Goldstein Golub KesslerPaul KorenPartner
Internal Revenue ServiceThe Honorable Mark W. EversonCommissioner
Cono R. NamoratoDirector, Office of Professional Responsibility
Interpublic Group of CompaniesNick CyprusSenior Vice President, Controller and Chief Accounting Officer
KPMG LLPJohn ChopackVice Chair of Tax Operations
McGladrey & Pullen, LLPBruce P. WebbNational Director of Auditing
Pfizer, Inc.David ShedlarzExecutive Vice President and Chief Financial Officer
PricewaterhouseCoopers LLPMichael GagnonRisk Management Leader and Chief Compliance Officer
The Government Accountability OfficeJeffrey C. SteinhoffManaging Director, Financial Management and Assurance
U.S. Securities & Exchange CommissionOffice of the Chief AccountantDonald NicolaisenChief Accountant
Robert BurnsChief Counsel
Andrew BaileyDeputy Chief Accountan