[Federal Register Volume 69, Number 68 (Thursday, April 8, 2004)]
[Notices]
[Pages 18656-18657]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-7932]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-49520; File No. PCAOB-2003-09]


Public Company Accounting Oversight Board; Notice of Filing of 
Proposed Rule and Form Governing Withdrawal From Registration

April 2, 2004.
    Pursuant to section 107(b) of the Sarbanes-Oxley Act of 2002 
(``Act''), notice is hereby given that on October 15, 2003, the Public 
Company Accounting Oversight Board (``Board'' or ``PCAOB'') filed with 
the Securities and Exchange Commission (``Commission'') the proposed 
rule and form preparation

[[Page 18657]]

instructions described in items I and II below, which items have been 
prepared by the Board. The Commission is publishing this notice to 
solicit comments on the proposed rule and form preparation instructions 
from interested persons.

I. Board's Statement of the Terms of Substance of the Proposed Rule

    The PCAOB proposes to adopt a rule for public accounting firms 
registered with the Board to implement section 102 of the Act. The 
proposal consists of a rule (PCAOB Rule 2107) and instructions to 
prepare a form (PCAOB Form 1-WD). The text of the proposed rule and 
form preparation instructions are available for inspection at the 
Office of the Secretary, the PCAOB, the Commission's Public Reference 
Room and on the PCAOB's Internet Web site at http://www.pcaobus.org/pcaob_rulemaking.htm.

II. Board's Statement of the Purpose of, and Statutory Basis for, the 
Proposed Rule

(A) Purpose

    Section 102 of the Act makes it unlawful for any person that is not 
a public accounting firm registered with the Board to prepare or issue, 
or to participate in the preparation or issuance of, any audit report 
with respect to any issuer. The Board has previously adopted, and the 
Commission has approved, rules governing the process by which a public 
accounting firm becomes registered with the Board. The proposed rule 
would govern the process by which a firm, once registered, may withdraw 
such registration.

(B) Statutory Basis

    The statutory basis for the proposed rule is Title I of the Act.

III. Date of Effectiveness of the Proposed Rule and Timing for 
Commission Action

    Within 35 days of the date of publication of this notice in the 
Federal Register or within such longer period (i) as the Commission may 
designate up to 90 days of such date if it finds such longer period to 
be appropriate and publishes its reasons for so finding, or (ii) as to 
which the Board consents, the Commission will:
    (A) By order approve such proposed rule and form preparation 
instructions; or
    (B) Institute proceedings to determine whether the proposed rule 
and form preparation instructions should be disapproved.

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views and 
arguments concerning the foregoing, including whether the proposed 
rules are consistent with the Act. Comments may be submitted 
electronically or by paper. Electronic comments may be submitted by: 
(1) Electronic form on the SEC Web site (http://www.sec.gov) or (2) e-
mail to [email protected]. Mail paper comments in triplicate to 
Jonathan G. Katz, Secretary, Securities and Exchange Commission, 450 
Fifth Street, NW., Washington, DC 20549-0609. All submissions should 
refer to File No. PCAOB-2003-09; this file number should be included on 
the subject line if e-mail is used. To help us process and review your 
comments more efficiently, please use only one method. The Commission 
will post all comments on the Commission's Internet Web site (http://www.sec.gov). Comments are also available for public inspection and 
copying in the Commission's Public Reference Room, 450 Fifth Street, 
NW., Washington, DC 20549. We do not edit personal identifying 
information from submissions. You should submit only information that 
you wish to make available publicly. All comments should be submitted 
on or before April 29, 2004.

    By the Commission.
J. Lynn Taylor,
Assistant Secretary.
[FR Doc. 04-7932 Filed 4-7-04; 8:45 am]
BILLING CODE 8010-01-P