PCAOB Releases Names of Accounting Firms Applying for Registration

Washington, D.C., Aug. 27, 2003

The Public Company Accounting Oversight Board today began releasing the names of public accounting firms that have submitted applications for registration with the Board.

Under the Sarbanes-Oxley Act of 2002 and the Board's rules, U.S. public accounting firms must be registered with the Board by Oct. 22, 2003, to continue preparing or issuing audit reports on U.S. public companies or to play a substantial role in such audits. Non-U.S. firms must register by April 19, 2004.

The Sarbanes-Oxley Act provides the Board 45 days to review registration applications.

U.S. firms that submit their applications after the first week of September might not receive approval by the Oct. 22 deadline.

Public accounting firms that wish to apply for registration must do so by completing and submitting Form 1, available to qualified applicants through the Board's Web site at www.pcaobus.org.