Board to Consider 2006 Budget, Technical Amendments

Washington, DC, Nov. 17, 2005

The Public Company Accounting Oversight Board has scheduled an open meeting at 10 a.m. Tuesday, November 22, in the Board’s open meeting room at 1666 K St. NW, Washington, DC.

Among the items the Board is scheduled to consider are:

  • Adoption of the PCAOB’s budget for the 2006 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 2005, will form the basis for the Board’s 2006 assessment of accounting support fees on public companies.

  • Adoption of certain technical amendments to the Board's rules on independence and tax services.

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