Washington (Sept. 2, 2004) -- The Standing Advisory Group of the Public Company Accounting Oversight Board is set to meet Sept. 8 and 9 to review existing auditing standards and to discuss potential future standards.

The group of experts was assembled in April to assist the board in carrying out its standards-setting responsibilities by giving its advice to the board on standard-setting priorities and policy implications of existing and proposed standards.

The items to be considered by the advisory group during its two-day meeting in Washington include issues relating to an auditor's responsibility for the detection of fraud, the interim auditing standard on related-party transactions, issues associated with auditing the measurement and disclosure of assets and liabilities at fair value, the interim auditing standard on the confirmation process, and risk assessment.

The meeting is open to the public and will be Webcast on the PCAOB Web site on Sept. 8 from 1:30 p.m. to 5:30 p.m. and on Sept. 9 from 10:30 a.m. to 3:30 p.m.

-- WebCPA staff

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