Board Announces Standing Advisory Group Meeting

Washington, D.C., Feb. 14, 2008

The Public Company Accounting Oversight Board announced today a meeting of its Standing Advisory Group scheduled for Wednesday, February 27, 2008, from 8:30 a.m. to 4:00 p.m., at The Army and Navy Club, 901 17th Street NW, Washington, DC.

The advisory group will engage in a panel discussion regarding the use of judgment, based on a proposal developed by the Securities and Exchange Commission's Advisory Committee on Improvements to Financial Reporting (CIFiR). In addition, the meeting will include a discussion on the supervision of audit work performed by registered public accounting firms.

Finally, the group will discuss quality control practices of global audit networks in audits of financial statements, including financial statements prepared in accordance with International Financial Reporting Standards.

The agenda and other documents for this meeting can be found on the Board's Web site at, under Standards, Standing Advisory Group. The briefing papers regarding the discussion on supervision of audit work performed by accounting firms and quality control practices of global audit networks are available now. The briefing paper regarding CIFiR's proposal on judgment will be available shortly.

The meeting is open to the public and will be Webcast on the Board's Web site.

The Board also has reserved the following dates for additional Standing Advisory Group meetings in 2008 – June 25-26 and October 22-23. The agenda and meeting logistics will be announced closer to each meeting date.