SEC Open Meeting Agenda
Tuesday, April 1, 2003, 10:00 a.m.
Agenda as of the morning of March 31, 2003. Note that Open Meeting agendas are subject to last-minute changes.
||Standards Relating to Listed Company Audit Committees|
Office: Division of Corporation Finance
Staff: Elizabeth Murphy, Jeffrey Minton
Item 1: Standards Relating to Listed Company Audit Committees
The Commission will consider whether to adopt new rules and amendments to direct the national securities exchanges and national securities associations to prohibit the listing of any security of an issuer that is not in compliance with the audit committee requirements established by the Sarbanes-Oxley Act of 2002. These requirements relate to: the independence of audit committee members; the audit committee's responsibility to select and oversee the issuer's independent accountant; procedures for handling complaints regarding the issuer's accounting practices; the authority of the audit committee to engage advisors; and funding for the independent auditor and any outside advisors engaged by the audit committee. The rule implements the requirements of Section 10A(m)(1) of the Securities Exchange Act of 1934, as added by Section 301 of the Sarbanes-Oxley Act of 2002.
For further information, please contact Jeff Minton at (202) 942-2910.