PCAOB to Consider Adopting Auditing Standard On Engagement Quality Review and Issuing Concept Release on Requiring the Engagement Partner to Sign the Audit Report

The Public Company Accounting Oversight Board has scheduled an Open Meeting for Tuesday, July 28, at 10:00 a.m., in the Board’s meeting room at 1666 K St. N.W., Washington, D.C.

The Board will consider adopting an auditing standard, Engagement Quality Review, that would supersede its existing concurring partner review requirement. The Board initially proposed the auditing standard on February 26, 2008, and reproposed the auditing standard on March 4, 2009.

The Board also will consider issuing a concept release soliciting comment on whether the engagement partner should be required to sign the audit report.

The meeting is open to the public and Webcast via a link on the PCAOB Web site (www.pcaobus.org) that will be made available the day of the meeting. The meeting also will be available via podcast later in the day.