Washington, D.C., Nov. 20, 2008
The Public Company Accounting Oversight Board has scheduled an Open Meeting for Tuesday, Nov.25, at 9:30 a.m., to consider adoption of the PCAOB budget for the 2009 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 is submitted to the Securities and Exchange Commission for approval, as required by Section 109(b) of the Act.
Pursuant to the Act, the budget will form the foundation for the Board’s 2009 assessment of accounting support fees on public companies.
The meeting is open to the public and will take place in the Board’s meeting room at 1666 K St. N.W., Washington, D.C. It also will be Webcast via a link on the PCAOB Web site (www.pcaobus.org), and available via podcast later in the day.