PCAOB to Consider Reproposal of Auditing Standard, Related Parties, and Related Amendments, Including Amendments Regarding Significant Unusual Transactions

The Public Company Accounting Oversight Board has scheduled an open meeting for 9:30 a.m. on Tuesday, May 7, to consider reproposing for public comment an auditing standard, Related Parties.

The Board also will consider related amendments, including those regarding significant unusual transactions.

The reproposed standard and amendments would revise auditor performance requirements in areas that could pose significant risks of material misstatement in company financial statements.

The PCAOB initially issued a proposed standard and amendments on Feb. 28, 2012. Related information is available on the PCAOB website.

The meeting is open to the public and will take place in the Board's meeting room at 1666 K St. NW, Washington, DC. A webcast via a link on the PCAOB website will be made available the day of the meeting. The meeting also will be available via podcast later in the day.