Washington (Sept. 12, 2003) -- The Public Company Accounting Oversight Board will hold a roundtable meeting on Sept. 29 to discuss a new auditing standard addressing audit documentation.

Invited speakers include representatives from accounting firms, public companies, investor groups and regulators. The meeting will be held from 2 to 5 p.m. in the Congressional Room at the Capital Hilton.

The Sarbanes-Oxley Act requires that the board adopt an audit documentation standard that would require auditors to prepare, and maintain for a period of at least 7 years, audit work papers and other information related to any audit report. The audit papers must be sufficiently detailed to support the conclusions reached in the report.

To achieve this goal, the board will be discussing a new standard on audit documentation.

The meeting is open to the public and will be Webcast at www.pcaobus.org. The audit documentation briefing paper is available for download at http://www.pcaobus.org/pcaob_standards.asp.

-- WebCPA staff

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