Federal Register / Vol. 65, No. 112 / Friday, June 9, 2000 / Notices 36693

can continue to collect the necessary

information subject to the Paperwork

Reduction Act. There is no change to

this collection. The Commission is

extending the current Office of

Management and Budget (OMB)

approval for the next three years.

Federal Communications Commission.

Magalie Roman Salas,

Secretary.

[FR Doc. 00–14539 Filed 6–8–00; 8:45 am]

BILLING CODE 6712–01–P

FEDERAL COMMUNICATIONS

COMMISSION

[DA 99–2674]

Responsible Accounting Officer—

Letter 28—Re: Auditor Independence

and Objectivity

AGENCY: Federal Communications

Commission.

ACTION: Notice; announcement of OMB

approval.

SUMMARY: This document discusses the

importance of independence and

objectivity in the performance of audit

work required by the Commission and

adopts, as modified for Commission

purposes, Standard No. 1 of the

Independence Standards Board, which

requires auditors to disclose and discuss

potential independence problems.

DATES: Effective May 19, 2000.

FOR FURTHER INFORMATION CONTACT:

Mark Stone, Accounting Safeguards

Division, Common Carrier Bureau, (202)

418–0816.

SUPPLEMENTARY INFORMATION: On

December 1, 1999 the Common Carrier

Bureau, Accounting and Audits

Division adopted and released a

Responsible Accounting Officer (RAO)

Letter 28, Re: Auditor Independence

and Objectivity, a summary of which

was published in the Federal Register.

See 64 FR 71785 (December 22, 1999).

In that document we address the

independence implications for the new

consulting and advocacy services

provided by auditors. In that document

the Commission establishes the

following standard based on

Independence Standards Board’s

Standard No. 1. For independent audits

performed pursuant to part 32 and

§ 64.901 et seq. of the Commission’s

rules (including audits, attest

examinations, agreed-upon procedures

engagements, and any other engagement

required by independent auditors), the

auditor shall at least annually: (a)

Disclose to the Accounting Safeguards

Division (ASD) of the Common Carrier

Bureau in writing all relationships

between the auditor and its related

entities and the carrier and its related

entities that in the auditor’s professional

judgment may reasonably be thought to

bear on independence; (b) confirm in

writing to ASD that in its professional

judgment it is independent of the

carrier; and (c) discuss the auditor’s

independence with ASD.

We stated that ‘‘because items in the

RAO letter pertain to the collection of

information, Office of Management and

Budget (OMB) approval of the proposed

collection is required by the Paperwork

Reduction Act of 1995. Under the

Paperwork Reduction Act, members of

the public are not required to respond

to a collection of information sponsored

by the Federal government, and the

government may not conduct or sponsor

a collection, unless the information

collection contains a currently valid

OMB control number. Accordingly,

independent auditors will not be

required to comply with this RAO until

OMB has given such approval. ASD will

notify the public when OMB has

approved the proposed information

collection.’’ The information collection

was approved by OMB on May 19, 2000.

See OMB No. 3060–0927. This

publication satisfies our statement that

the Commission would publish a

document announcing OMB approval of

proposed information collection.

Federal Communications Commission.

Kenneth P. Moran,

Chief, Accounting Safeguards Division,

Common Carrier Bureau.

[FR Doc. 00–14609 Filed 6–8–00; 8:45 am]

BILLING CODE 6712–01–U

FEDERAL COMMUNICATIONS

COMMISSION

[DA 00–971]

Annual Adjustment of Revenue

Threshold

AGENCY: Federal Communications

Commission.

ACTION: Notice.

SUMMARY: This notice announces that

the 1999 revenue threshold used for

classifying carriers for various

accounting and reporting purposes is

increased to $114 million. Section

402(c) of the 1996 Act mandates that the

Commission adjusts the revenue

threshold annually to reflect the effect

of inflation.

DATES: The agency must receive

comments on or before September 7,

2000.

ADDRESSES: Federal Communications

Commission, 445–12th Street, SW,

Room TW–A325, Washington, D.C.

20554.

FOR FURTHER INFORMATION CONTACT:

Debbie Weber, Accounting Systems

Branch, Accounting Safeguards

Division, Common Carrier Bureau at

(202) 418–0812.

SUPPLEMENTARY INFORMATION: This gives

notice that the revenue threshold used

for classifying carriers for various

accounting and reporting purposes is

increased to $114 million. Section

402(c) of the 1996 Act mandates that we

‘‘adjust the revenue requirements’’ of

Sections 32.11, 43.21, 43.43 and 64.903

of our rules ‘‘to account for inflation as

of the release date of the Commission’s

Report and Order in CC Docket No. 91–

141, and annually thereafter.’’ Prior to

passage of the 1996 Act, our rules

established a $100 million threshold to

classify carriers for accounting purposes

in Section 32.11, for filing cost

allocation manuals in Section 64.903,

and for filing certain reports with the

Commission in Part 43.

In accordance with the 1996 Act, the

Commission adjusts the revenue

threshold based on the ratio of the Gross

Domestic Product Chain-type Price

Index (GDPPI) in the revenue year and

the GDPPI for 1992, rounded to the

nearest $1 million. The 1999 indexed

revenue threshold was calculated as

follows:

(1) 1992 GDPPI .............................. 91.62

(2) 1999 GDPPI .............................. 104.57

(3) Inflation Factor (line 2 / line 1) 1.1413

(4) Original Revenue Threshold ... 1 $100

(5) 1999 Revenue Threshold (line

3 * line 4) .................................... 1 $114

1Million.

Accordingly, the 1999 indexed

revenue threshold is $114 million.

Federal Communications Commission.

Magalie Roman Salas,

Secretary.

[FR Doc. 00–14540 Filed 6–8–00; 8:45 am]

BILLING CODE 6712–01–P

FEDERAL DEPOSIT INSURANCE

CORPORATION

Sunshine Act Meeting

Pursuant to the provisions of the

‘‘Government in the Sunshine Act’’ (5

U.S.C. 552b), notice is hereby given that

at 10:19 a.m. on Tuesday, June 6, 2000,

the Board of Directors of the Federal

Deposit Insurance Corporation met in

closed session to consider matters

relating to the Corporation’s corporate,

supervisory, and resolution activities.

In calling the meeting, the Board

determined, on motion of Director Ellen

S. Seidman (Director, Office of Thrift