Washington (July 18, 2003) -- One day after the Securities and Exchange Commission approved the proposed registration rules for the Public Company Accounting Oversight Board, the entity created by the passage of Sarbanes-Oxley, launched its registration system for public accounting firms and its application fee structure.
The oversight body said its registration fee schedule is “tiered according to the number of issuer clients for which a firm performed audits in the preceding fiscal year.”
The fee schedule is as follows
- $250 – 0 clients.
- $500 – 1-49 clients.
- $3,000 – 50-100 clients.
- $29,000 – 101-1,000 clients.
- $390,000 – 1,001 and over.
Beginning Oct. 22, 2003, all U.S.-based public accounting firms must be registered with the PCAOB in order to audit public companies. Firms that want to apply for registration must complete and submit Form 1, available on the board’s Web site at www.pcaobus.org.-- WebCPA staff
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