The Public Company Accounting Oversight Board has proposed an auditing standard on engagement quality review and a conforming amendment to the board's interim quality control standards that will supersede the board's interim concurring partner review requirement.

Section 103 of the Sarbanes-Oxley Act directs the board to include in its auditing standards a requirement for each registered public accounting firm to provide a concurring or second partner review and approval of each audit report, along with other related information and a concurring approval.

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