PCAOB announces forum for small public company execs

The Public Company Accounting Oversight Board has announced the agenda for its upcoming forums for directors and financial executives of small and mid-sized public companies – part of the Forum on Auditing in the Small Business Environment series.

The first forum, hosted by Board Member Dan Goelzer, is Wednesday, Oct. 1, at the Sofitel Hotel in Chicago, IL. The second, hosted by Board Member Bill Gradison, is Thursday, Oct. 30, at The Rittenhouse Hotel in Philadelphia, PA.

The forum agenda includes PCAOB staff updates on current accounting and auditing issues; auditing standards-setting activities; and inspections activities and observations.

In addition, staff from the Securities and Exchange Commission's Division of Corporate Finance discuss common financial reporting issues facing smaller issuers, including observations on the implementation of the SEC's guidance for management's reporting in compliance with Section 404 of the Sarbanes-Oxley Act.

Also included on the agenda is a panel discussion on what audit committees should know about the work of the PCAOB. Finally, Dr. Pat Harned, president of the Ethics Resource Center discusses the results of the center's 2007 National Business Ethics Survey – the fifth in a series measuring trends in workplace ethics and compliance and giving a snapshot of current employee behaviors and perceptions.

While there is no fee charged for these events, pre-registration is required. For registration information and forms, interested directors and financial executives of small and mid-sized public companies should visit the PCAOB Web site. Attendees may earn continuing professional education (CPE) credit for participation.

The PCAOB began its Forum on Auditing in the Small Business Environment in November 2004 and continued the sessions over the past four years in cities across the country. The forums are designed to help share important information with registered public accounting firms and public companies operating in the small business community.

Board members and staff have met with more than 2,300 representatives of small registered public accounting firms and small public companies to provide insight into the work of the PCAOB, particularly the inspections process, and the impact of new auditing standards. The feedback received from these forums assists the PCAOB in understanding and considering the unique needs and challenges of the small business community.

The PCAOB also hosts separate Forums on Auditing in the Small Business Environment specifically for smaller registered accounting firms.

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