PCAOB Solicits Nominations For Standing Advisory Group

Washington, D.C., May 3, 2010

The Public Company Accounting Oversight Board is soliciting nominations for its Standing Advisory Group (SAG).

The SAG provides input and advice to the Board on its standard-setting activities.  The PCAOB develops standards to be used by registered public accounting firms in audits of public companies. These standards are also of interest to investors, audit committee members, and academia.

"The SAG is an integral part of the PCAOB standard-setting process. The insights and knowledge that SAG members provide are a tremendous resource to the Board in helping to shape the PCAOB projects," said Martin F. Baumann, PCAOB Chief Auditor and SAG Chairman.

The SAG has provided input and advice to the Board on a wide array of topics, including auditing in the current economic environment, auditing fair value measurements, the auditor's reporting model, and the auditor’s communications with audit committees.

The SAG currently has 30 members with expertise in a variety of fields, including accounting, auditing, corporate finance, corporate governance, and investing in public companies. The PCAOB seeks nominations for members who can provide diverse perspectives on the PCAOB standard-setting activities.

The PCAOB solicits nominations annually and is currently seeking to fill appointments for the two-year term of 2011-2012.  Nominations, including self-nominations, may be submitted by any person or organization.  The nomination forms are available at the links below.  The deadline for submissions is June 17, 2010.

Appointments will be announced by the end of October, and the new terms begin in January 2011.  Membership in the advisory group is personal to the member, and the duties and responsibilities cannot be delegated to others.  In addition, members are subject to certain sections of the Board’s Ethics Code, as provided in the PCAOB Rule 3700, Advisory Groups.