PCAOB Sets Agenda for Roundtable on Auditor Independence and Tax Services
The Public Company Accounting Oversight Board (PCAOB) this week announced the participants in a July 14, 2004, roundtable meeting to discuss issues relating to tax services and auditor independence.
Participants include representatives from accounting firms, public companies, investors and regulators.
The meeting will be held from 10 a.m. to 4:30 p.m. in the Presidential Room at the Capital Hilton, at 1001 16th St., N.W., in Washington, D.C.
The Sarbanes-Oxley Act of 2002 authorized the PCAOB to establish rules and standards for auditor independence. In the exercise of its new responsibilities, the Board has determined that it is appropriate at this time to consider the impact of tax services on auditor independence. The purpose of this roundtable is to review existing tax services provided by auditors to public company audit clients and to discuss the effect, if any, these services have on auditor independence.
The roundtable will cover a number of topics, including whether an auditor's engagement to provide various types of tax services could affect the auditor's independence, and if there are any overarching principles that could provide guidance in considering the impact of these services on independence. In addition, the roundtable will discuss whether there are any specific factors that audit committees should consider in evaluating an engagement for an auditor to provide tax services, and whether any ethical issues are raised by auditors' involvement in certain tax services.
The meeting is open to the public and will be webcast at www.pcaobus.org. The auditor independence roundtable briefing paper is available under the Standards section of the PCAOB Web site.
Associate General Counsel
American Bankers Association
Senior Vice President and Director of Corporate Tax
American Institute of Certified Public Accountants
Vice President of Taxation
Chief Investment Officer
Chartered Financial Analyst Institute
Senior Vice President, Professional Standards & Advocacy
Colorado State University
Professor of Accounting
Consumer Federation of America
Director of Investor Protection
Council of Institutional Investors
Director of Research
Crowe Chizek and Company LLC
James L. Brown
Ernst & Young LLP
Vice Chair – Tax Services
Financial Executives International
President & CEO
Goldstein Golub Kessler
Internal Revenue Service
The Honorable Mark W. Everson
Cono R. Namorato
Director, Office of Professional Responsibility
Interpublic Group of Companies
Senior Vice President, Controller and Chief Accounting Officer
Vice Chair of Tax Operations
McGladrey & Pullen, LLP
Bruce P. Webb
National Director of Auditing
Executive Vice President and Chief Financial Officer
Risk Management Leader and Chief Compliance Officer
U.S. General Accounting Office
Jeffrey C. Steinhoff
Managing Director, Financial Management and Assurance
U.S. Securities & Exchange Commission
Office of the Chief Accountant
Deputy Chief Accountant