Board to Consider 2007 Budget

Washington, DC, Nov. 22, 2006

The Public Company Accounting Oversight Board has scheduled an open meeting at 1 p.m. Thursday, November 30, in the Board’s open meeting room at 1666 K St. NW, Washington, DC.

The Board is scheduled to consider adoption of the PCAOB’s budget for the 2007 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 2006, will form the basis for the Board’s 2007 assessment of accounting support fees on public companies.

The meeting is open to the public.