The Public Company Accounting Oversight Board will meet prior to the Thanksgiving holiday in order to address a number of items.
The PCAOB is scheduled to adopt its budget for the 2006 fiscal year, which must be submitted to the Securities and Exchange Commission for approval. The board's budget is defined under the Sarbanes-Oxley Act, and the registration fees collected from accounting firms for the 2005 fiscal year form the basis for the board's 2006 assessment of accounting support fees on public companies.
The PCAOB is also expected to adopt a series of technical amendments to its rules on independence and tax services.
The meeting will be one of the last for Chairman William McDonough, who will step down from his position on Nov. 30. Securities and Exchange Commission Chairman Christopher Cox has said that he didn't expect to name a permanent successor for McDonough by the time McDonough departs and that, in all likelihood, he will name an interim chief for the board until a successor is named.
The meeting is open to the public and will be Webcast on the board's Web site, at www.pcaob.org.
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