Board to Consider 2005 Budget, Bylaw Amendments

The Public Company Accounting Oversight Board has scheduled an open meeting at 10 a.m. Tuesday, Oct. 26, in the Board’s 8th floor meeting room, 1666 K Street N.W., in Washington, DC.

Among the items the Board is scheduled to consider are:

• Adoption of the PCAOB’s budget for the 2005 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, less registration fees collected from accounting firms in 2004, will form the basis for the Board’s 2005 assessment of accounting support fees on public companies.

• Adoption of certain bylaw amendments.

The meeting is open to the public and an audio archive is available here.