Washington (Oct. 16, 2003) -- The simmering battle between the Public Company Accounting Oversight Board and the European Union over European auditing firm registration may be ending, Dow Jones reported.

At a press briefing here, PCAOB Chairman William McDonough indicated that an agreement between the two bodies may come within the next couple of days. EU commissioner Frits Bolkestein, an outspoken opponent of overseas firm registration, said he hoped that any agreement would include a resolution on auditor registration.

The PCAOB mandates that European firms that audit U.S. public companies be registered.

Bolkestein said European firms could register with the U.S. accounting oversight board if the two sides reach an agreement on enforcement.

-- WebCPA staff

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