PCAOB to Huddle on Internal Controls

The Public Company Accounting Oversight Board said that it would convene on March 31 to mull over an auditing standard affecting companies that correct weaknesses in their internal controls. The board said that the group would consider a new standard that would permit auditors to report on a company's claim that it has rectified a previously reported material weakness in its internal controls under Sarbanes-Oxley Section 404. The meeting, which is open to the public, will be webcast through the PCAOB's Web site, at www.pcaobus.org.