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Board Schedules Roundtable on Reporting on Internal Control

Washington, DC, July 10, 2003 – The Public Company Accounting Oversight Board announced today that it has scheduled a roundtable meeting on July 29 to solicit views on the responsibilities of registered public accounting firms to report on the assessment of internal controls by issuers.

The roundtable meeting will be held from 9:30 a.m. to 4 p.m. in the Congressional Room of the Capital Hilton, 16th and K Streets N.W., in Washington, D.C. Representatives of public companies, accounting firms, and investor groups are scheduled to participate with members of the Public Company Accounting Oversight Board. Among the companies and groups to be represented are:

Agilent Technologies Inc.; AIMR (The Association for Investment Management and Research); the American Society of Corporate Secretaries; Bank of America; California State Board of Accountancy; Commercial Federal Bank; the Council of Institutional Investors; Deloitte & Touche LLP; Ernst & Young LLP; Federal Reserve Board; Financial Executives International; Grant Thornton LLP; Intel Corp.; KPMG LLP; Pfizer Inc.; PricewaterhouseCoopers LLP; the Securities and Exchange Commission; TIAA-CREF, and Witt, Mares & Company PLC.

The roundtable will be webcast and open to the public. Real-time and archived audio webcasts of the Board’s meetings are accessible on the Boards web site.

A briefing paper describing the issues to be discussed at the roundtable can be found under Standards on the Board’s Web site.

The archived webcast of the roundtable can be found here.

Media contact: Christi Harlan 202-207-9049

Media Inquiries: Public Affairs, 202-207-9227

The PCAOB is a private-sector, nonprofit corporation, created by the Sarbanes-Oxley Act of 2002, to oversee the auditors of public companies in order to protect the interests of investors and further the public interest in the preparation of informative, fair, and independent audit reports.