Board Solicits Standing Advisory Group Nominations

Washington, DC, May 2, 2006

The Public Company Accounting Oversight Board is soliciting nominations and re-nominations for members of its Standing Advisory Group.

The Standing Advisory Group was created in 2003 to assist the Board in carrying out its standards-setting responsibilities for auditing. The group consists of 31 members with expertise in a variety of fields, including accounting, auditing, corporate finance, corporate governance, and investing in public companies.

The Board solicits nominations and re-nominations annually and is currently seeking to fill 14 positions. Appointments are for two-year terms.

Members will be selected by the Board based on nominations, including self-nominations, received from any person or organization. Current members may be re-nominated for another term. The nomination forms are available under Standards on the Board’s Web site, The deadline for submissions is June 16, 2006.

Appointments will be announced by the end of October, and the new terms will begin in January 2007. Membership in the advisory group is personal to the member, and the duties and responsibilities of the member cannot be delegated to others. Members will be subject to certain sections of the Board's Ethics Code, as well as other conditions provided in PCAOB Rule 3700, a rule on the formation of advisory groups.

The group is chaired by the Board's Chief Auditor and Director of Professional Standards, Thomas Ray, and will meet approximately three times each year.

Standing Advisory Group Nomination Forms (Submission deadline is June 16, 2006):