SEC and PCAOB to host May roundtable

Internal Auditor, April, 2006 by J. Whitley

THE U.S. SECURITIES AND Exchange Commission (SEC) and the Public Company Accounting Oversight Board (PCAOB) will sponsor a roundtable on May 10 to discuss year-two experiences regarding the reporting and audit requirements of the Sarbanes-Oxley Act. The discussion relating to companies' internal control over financial reporting will include issuers, auditors, investors, and other interested parties.

The SEC has indicated that it will consider facts presented at the event in developing policies to improve the reliability of financial statements for the benefit of investors, including possible modifications to the PCAOB's Auditing Standard No. 2. The commission is soliciting written feedback from registrants, auditors, investors, and others on their experiences with complying with the Section 404 requirements before May 1.

Further information is available on the SEC's Web site, www.sec.gov.