Document ID: SEC-2006-0277-0001
Agency: sec
Document Type: Notice
Title: Roundtable on Internal Control Reporting Requirements
Posted Date: 2006-03-03T05:00Z

[Federal Register: March 3, 2006 (Volume 71, Number 42)]
[Notices]               
[Page 11001]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr03mr06-102]                         

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SECURITIES AND EXCHANGE COMMISSION

[Release Number 34-53360; File No. 4-511]

 
Roundtable on Internal Control Reporting Requirements

AGENCY: Securities and Exchange Commission.

ACTION: Notice of roundtable discussions; request for comment.

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SUMMARY: The Securities and Exchange Commission and the Public Company 
Accounting Oversight Board announced on February 16, 2006 that they 
will sponsor a roundtable May 10, 2006, at the Commission's 
headquarters in Washington, DC, to discuss second-year experiences with 
the reporting and auditing requirements of the Sarbanes-Oxley Act of 
2002 related to companies' internal control over financial reporting. 
The roundtable discussion will include issuers, auditors, investors and 
other interested parties.
    ``Last spring's informative roundtable resulted in valuable 
guidance,'' said SEC Chairman Christopher Cox. ``We look forward to an 
update on compliance efforts after year two. I'm pleased that the PCAOB 
is coordinating this year's roundtable with the SEC. We will carefully 
consider the facts presented to help develop policies to effectively 
and efficiently improve the reliability of financial statements for the 
benefit of investors.''
    ``I am very much open to suggestions to make the internal control 
assessment process more efficient, including modifications of the 
PCAOB's auditing standard and other actions the Board could 
undertake,'' said PCAOB Acting Chairman Bill Gradison. ``This is the 
PCAOB's highest priority policy issue.''
    The Commission and the PCAOB further announced today that, in 
addition to the roundtable, they are seeking written feedback from 
registrants, auditors, investors and others on their experiences with 
complying with the Section 404 requirements. The Commission is not 
soliciting feedback on a particular set of inquiries. The information 
that is submitted to either organization will become part of the public 
record of the Section 404 roundtable.

DATES: Members of the public are encouraged to provide the submissions 
before May 1, 2006.

ADDRESSES: To help us process and review your comments more 
efficiently, comments should be sent by one method only. Comments 
should be submitted electronically at the following e-mail address: 
rule-comments@sec.gov. Comments may also be submitted using the 

Commission's Internet submission form at http://www.sec.gov/news/press.shtml.
 Comments may also be submitted in triplicate to Nancy M. 

Morris, Secretary, Securities and Exchange Commission, 100 F Street, 
NE., Washington, DC 20549-1090. All comment letters should refer to 
File Number 4-511; this File number should be included on the subject 
line if e-mail is used. Comment letters will also be posted on the 
Commission's Internet Web site (http://www.sec.gov/news/press/4-511.shtml
). Comment letters will be available for public inspection and 

copying in the Commission's Public Reference Room.

FOR FURTHER INFORMATION CONTACT: Consuelo Hitchcock (202-551-3500) or 
Nancy Salisbury (202-551-5300) at Securities and Exchange Commission, 
100 F Street, NE., Washington, DC 20549.

    Dated: February 24, 2006.
Nancy M. Morris,
Secretary.
 [FR Doc. E6-3031 Filed 3-2-06; 8:45 am]

BILLING CODE 8010-01-P