Public Company Accounting Oversight Board; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Adjusting Implementation Schedule of Rule 3523, Tax Services for Persons in Financial Reporting Oversight Roles, 55841-55843 [E7-19274]

Download as PDF Federal Register / Vol. 72, No. 189 / Monday, October 1, 2007 / Notices year to year. The adjustment will accomplish this while delaying only a relatively small portion of inspections, and delaying them only for a short period. The Board adopted Rule 4003(d) before obtaining public comment because of the nature of the rule, which involves a temporary adjustment, for administrative and programmatic reasons, to an element of an existing rule to which the Board is not making any permanent change. Nevertheless, the Board invited public comment on Rule 4003(d), and the Board provided that Rule 4003(d) would expire on June 30, 2007 unless the Board, after considering any public comment, acted to adopt the rule for a longer period. The Board received two comment letters, each expressing general support for Rule 4003(d) and neither raising any issues concerning the rule. On May 24, 2007, the Board approved retaining Rule 4003(d) indefinitely beyond the tentative June 30, 2007 expiration date. The Board has also adopted technical amendments to two aspects of the rules relating to inspections. In Rule 4006, the Board is revising the numbering of the paragraphs from ‘‘(1)’’ and ‘‘(2)’’ to ‘‘(a)’’ and ‘‘(b)’’ to conform to the convention in the Board’s rules generally. In Rule 4009(d)(2), the Board is correcting a cross-reference. Rule 4009(d)(2)’s crossreference to ‘‘paragraph (b) of this rule’’ dates to the Board’s originally proposed Rule 4009. The substance of paragraph (b) in the proposed rule was moved to paragraph (c) in the final rule adopted by the Board, and the cross-reference in paragraph (d)(2) should have been revised to cross-reference paragraph (c) at that time. The Board has now corrected that cross-reference. (b) Statutory Basis The statutory basis for the proposed rule is Title I of the Act. mstockstill on PROD1PC66 with NOTICES B. Board’s Statement on Burden on Competition The Board does not believe that the proposed rule change will result in any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. With respect to the firms subject to an inspection requirement, the proposed rules impose no burden beyond the burdens clearly imposed and contemplated by the Act, and the proposed rules do not change the obligations of those firms as already set out in the Act and in existing Board rules. VerDate Aug<31>2005 18:31 Sep 28, 2007 Jkt 214001 C. Board’s Statement on Comments on the Proposed Rule Received From Members, Participants or Others The Board solicited comment on Rule 4003(d) when the Board adopted that rule on December 19, 2006. Since the filing of Form 19b–4 on December 20, 2006, the Board has received two comment letters on Rule 4003(d). Each comment letter expressed general support for Rule 4003(d), and neither comment letter raised any significant issues about the rule change. The Board did not solicit or receive comment on the other proposed rule changes described in Section I above. 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 as (i) 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 change, or (B) institute proceedings to determine whether the proposed rule change should be disapproved. IV. Solicitation of Comments 55841 Internet Web site (http://www.sec.gov/ rules/pcaob/shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for inspection and copying in the Commission’s Public Reference Section, 100 F Street, NE., Washington, DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. Copies of such filing also will be available for inspection and copying at the principal office of the PCAOB. All comments received will be posted without change; we do not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to File Number PCAOB– 2006–03 and should be submitted on or before October 22, 2007. By the Commission. Nancy M. Morris, Secretary [FR Doc. E7–19275 Filed 9–28–07; 8:45 am] BILLING CODE 8011–01–P Interested persons are invited to submit written data, views and arguments concerning the foregoing, including whether the proposed rule change is consistent with the requirements of Title I of the Act. Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/pcaob.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number PCAOB 2006–03 on the subject line. SECURITIES AND EXCHANGE COMMISSION [Release No. 34–56516; File No. PCAOB– 2007–03] Public Company Accounting Oversight Board; Notice of Filing and Immediate Effectiveness of Proposed Rule Change Adjusting Implementation Schedule of Rule 3523, Tax Services for Persons in Financial Reporting Oversight Roles September 25, 2007. Pursuant to Section 107(b) of the Sarbanes-Oxley Act of 2002 (the ‘‘Act’’), notice is hereby given that on July 24, Paper Comments 2007, the Public Company Accounting • Send paper comments in triplicate Oversight Board (the ‘‘Board’’ or the to Nancy M. Morris, Secretary, ‘‘PCAOB’’) filed with the Securities and Securities and Exchange Commission, Exchange Commission (the ‘‘SEC’’ or 100 F Street, NE., Washington, DC ‘‘Commission’’) the proposed rule 20549–1090. change described in Items I and II All submissions should refer to File below, which items have been prepared Number PCAOB 2006–03. This file by the Board. The PCAOB has number should be included on the designated the proposed rule change as subject line if e-mail is used. To help the ‘‘constituting a stated policy, practice, Commission process and review your or interpretation with respect to the comments more efficiently, please use meaning, administration, or only one method. The Commission will enforcement of an existing rule’’ under post all comments on the Commission’s Section 19(b)(3)(A)(i) of the Securities PO 00000 Frm 00106 Fmt 4703 Sfmt 4703 E:\FR\FM\01OCN1.SGM 01OCN1 55842 Federal Register / Vol. 72, No. 189 / Monday, October 1, 2007 / Notices Exchange Act of 1934 (as incorporated, by reference, into Section 107(b)(4) of the Act) and Rule 19b–4(f)(1) thereunder, which renders the proposal effective upon receipt of this filing by the Commission. The Commission is publishing this notice to solicit comments on the proposed rule from interested persons. I. Board’s Statement of the Terms of Substance of the Proposed Rule The PCAOB is filing with the SEC an adjustment of the implementation schedule for Rule 3523, Tax Services for Persons in Financial Reporting Oversight Roles. Specifically the Board will not apply Rule 3523 to tax services provided on or before April 30, 2008, when those services are provided during the audit period and are completed before the professional engagement period begins. The PCAOB is not proposing any textual changes to the Rules of the PCAOB by this filing. II. Board’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule In its filing with the Commission, the Board included statements concerning the purpose of, and basis for, the proposed rule and discussed any comments it received on the proposed rule. The text of these statements may be examined at the places specified in Item IV below. The Board has prepared summaries, set forth in sections A, B, and C below, of the most significant aspects of such statements. A. Board’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule mstockstill on PROD1PC66 with NOTICES (a) Purpose On July 26, 2005, the Board adopted certain rules related to registered public accounting firms’ provision of tax services to public company audit clients. As part of this rulemaking, the Board adopted Rule 3523, which provides that a registered firm, subject to certain exceptions, is not independent of an audit client if the firm, or an affiliate of the firm, provides tax services during the audit and professional engagement period to a person in, or an immediate family member of a person in, a financial reporting oversight role at an audit client. This rule was intended to address concerns related to auditor independence when auditors provide personal tax services to individuals who play a direct role in preparing the financial statements of public company audit clients. Rule 3523 was approved by the Securities and Exchange VerDate Aug<31>2005 18:31 Sep 28, 2007 Jkt 214001 Commission (‘‘SEC’’ or ‘‘Commission’’) on April 19, 2006. Consistent with the SEC’s independence rules,1 the phrase ‘‘audit and professional engagement period’’ is defined to include two discrete periods of time. The ‘‘audit period’’ is the period covered by any financial statements being audited or reviewed.2 The ‘‘professional engagement period’’ is the period beginning when the firm either signs the initial engagement letter or begins audit procedures, whichever is earlier, and ends when either the company or the firm notifies the SEC that the company is no longer that firm’s audit client.3 On April 3, 2007, the Board issued a concept release to solicit comment about the possible effect on a firm’s independence of providing tax services to a person covered by Rule 3523 during the portion of the audit period that precedes the beginning of the professional engagement period and other practical consequences of applying the restrictions imposed by Rule 3523 to that portion of the audit period.4 The Board also adjusted the implementation schedule for Rule 3523, as it applies to tax services provided during the period subject to audit but before the professional engagement period.5 The Board received 13 comment letters on the concept release. Commenters included auditors, state certified public accountant societies, and one investor. The majority of the commenters recommended that the Board amend Rule 3523 to exclude the portion of the audit period that precedes the beginning of the professional engagement period. On July 24, 2007, the Board proposed an amendment to Rule 3523 to exclude the portion of the audit period that precedes the beginning of the professional engagement period, as well as a new ethics and independence rule regarding communication with audit committees. The Board has determined to further adjust the implementation schedule for Rule 3523 to allow sufficient time for consideration of commenters’ views. Specifically, the Board will not apply Rule 3523 to tax services provided on or before April 30, 2008, when those services are provided during the audit 1 17 CFR 210.2–01(f)(5). 3501(a)(iii)(1). 3 Rule 3501(a)(iii)(2). 4 See PCAOB Release No. 2007–002 (April 3, 2007). 5 See id., at 7. Specifically, the Board stated that Rule 3523 will not apply to tax services provided on or before July 31, 2007, when those services are provided during the audit period and are completed before the professional engagement period begins. 2 Rule PO 00000 Frm 00107 Fmt 4703 Sfmt 4703 period and are completed before the professional engagement period begins.6 (b) Statutory Basis The statutory basis for the proposed rule change is Title I of the Act. B. Board’s Statement on Burden on Competition The Board does not believe that the proposed rule change will result in any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. C. Board’s Statement on Comments on the Proposed Rule Received From Members, Participants or Others The Board did not solicit or receive written comments on the proposed rule change. III. Date of Effectiveness of the Proposed Rule and Timing for Commission Action The foregoing rule change has become effective pursuant to Section 19(b)(3)(A) of the Securities Exchange Act of 1934 (as incorporated, by reference, into Section 107(b)(4) of the Act) and paragraph (f) of Rule 19b-4 thereunder because of its designation by the PCAOB as ‘‘constituting a stated policy, practice, or interpretation with respect to the meaning, administration, or enforcement of an existing rule.’’ At any time within 60 days of the filing of the proposed rule change, the Commission may summarily abrogate such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. IV. Solicitation of Comments Interested persons are invited to submit written data, views and arguments concerning the foregoing, including whether the proposed rule is consistent with the requirements of Title I of the Act. Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/pcaob.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number PCAOB–2007–03 on the subject line. 6 This will apply regardless of whether there is an engagement in process on July 31, 2007. E:\FR\FM\01OCN1.SGM 01OCN1 Federal Register / Vol. 72, No. 189 / Monday, October 1, 2007 / Notices Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. SECURITIES AND EXCHANGE COMMISSION [Release No. 34–56503; File No. SR–Amex– 2007–97] Self-Regulatory Organizations; American Stock Exchange LLC; Notice of Filing of Proposed Rule Change and All submissions should refer to File Amendment No. 1 Thereto Relating to Number PCAOB–2007–03. This file Changes in the Name and Investment number should be included on the subject line if e-mail is used. To help the Objective to the PowerShares DB Precious Metals Fund, the Commission process and review your PowerShares DB Gold Fund, and the comments more efficiently, please use PowerShares DB Silver Fund only one method. The Commission will post all comments on the Commission’s September 24, 2007. Internet Web site (http://www.sec.gov/ Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 rules/pcaob.shtml). Copies of the (‘‘Act’’) 1 and Rule 19b–4 thereunder,2 submission, all subsequent notice is hereby given that on August amendments, all written statements 23, 2007, the American Stock Exchange with respect to the proposed rule LLC (‘‘Amex’’ or ‘‘Exchange’’) filed with change that are filed with the the Securities and Exchange Commission, and all written Commission (‘‘Commission’’) the communications relating to the proposed rule change as described in proposed rule change between the Commission and any person, other than Items I, II, and III below, which Items have been substantially prepared by the those that may be withheld from the Exchange. On September 17, 2007, public in accordance with the Amex submitted Amendment No. 1 to provisions of 5 U.S.C. 552, will be the proposed rule change. The available for inspection and copying in Commission is publishing this notice to the Commission’s Public Reference solicit comments on the proposed rule Room, 100 F Street, NE., Washington, change, as amended, from interested DC 20549–1090, on official business persons. days between the hours of 10 a.m. and I. Self-Regulatory Organization’s 3 p.m. Copies of such filing also will be Statement of the Terms of Substance of available for inspection and copying at the Proposed Rule Change the principal office of the PCAOB. All The Exchange proposes to continue to comments received will be posted without change; we do not edit personal trade the shares (‘‘Shares’’) of each of the PowerShares DB Precious Metals identifying information from Fund, the PowerShares DB Gold Fund, submissions. You should submit only and the PowerShares DB Silver Fund information that you wish to make (collectively, the ‘‘Funds’’), each with a available publicly. All submissions revised name and investment objective. should refer to File Number PCAOB– 2007–03 and should be submitted on or The text of the proposed rule change is available at Amex, the Commission’s before October 22, 2007. Public Reference Room, and http:// By the Commission. www.amex.com. Nancy M. Morris, Secretary. [FR Doc. E7–19274 Filed 9–28–07; 8:45 am] mstockstill on PROD1PC66 with NOTICES BILLING CODE 8011–01–P II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the Exchange included statements concerning the purpose of, and basis for, the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in Sections A, B, and C below, of the most significant aspects of such statements. 1 15 2 17 VerDate Aug<31>2005 18:31 Sep 28, 2007 Jkt 214001 PO 00000 U.S.C. 78s(b)(1). CFR 240.19b–4. Frm 00108 Fmt 4703 Sfmt 4703 55843 A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose On December 29, 2006, the Commission approved the listing and trading of the Shares of each of the Funds.3 The Shares represent beneficial ownership interests in each corresponding Master Fund’s 4 net assets, consisting solely of the common units of beneficial interests of the DB Precious Metals Master Fund, the DB Gold Master Fund, and the DB Silver Master Fund, as applicable. Each of the foregoing Master Funds primarily holds futures contracts on the commodities comprising (1) the Deutsche Bank Liquid Commodity Index—Optimum Yield Precious Metals Excess ReturnTM, (2) the Deutsche Bank Liquid Commodity Index—Optimum Yield Gold Excess ReturnTM, and (3) the Deutsche Bank Liquid Commodity Index—Optimum Yield Silver Excess ReturnTM (each, an ‘‘Underlying Index,’’ and collectively, the ‘‘Underlying Indexes’’), respectively. Other holdings of the Funds include cash and U.S. Treasury securities for deposit with futures commission merchants as margin and other high-credit-quality, short-term fixed-income securities. The Exchange seeks to continue trading of the Shares based on changes to the names of each of the Funds. Specifically, the proposal contemplates changes in the names of the Funds so that the PowerShares DB Precious Metals Fund, the PowerShares DB Gold Fund, and the PowerShares DB Silver Fund would be changed to the PowerShares DB Ultra Precious Metals Fund, the PowerShares DB Ultra Gold Fund, and the PowerShares DB Ultra Silver Fund, respectively.5 In addition, Amex seeks to continue trading of the Shares based on a modified investment objective for each Fund. The Exchange represents that the modifications in the names and investment objective of the 3 See Securities Exchange Act Release No. 55029 (December 29, 2006), 72 FR 806 (January 8, 2007) (SR–Amex–2006–76) (approving the listing and trading of the Shares of each of the Funds); see also Securities Exchange Act Release No. 54770 (November 16, 2006), 71 FR 67935 (November 24, 2006) (SR–Amex–2006–76) (providing notice of the proposal to list and trade the Shares of the Funds). 4 The DB Multi-Sector Commodity Master Trust (the ‘‘Master Trust’’) was formed as a Delaware statutory trust in seven separate series (each, a separate ‘‘Master Fund’’). Each Master Fund is one series of the Master Trust. 5 E-mail from Candice Fordin, Assistant General Counsel, Amex, to Edward Cho, Special Counsel, Division of Market Regulation, Commission, dated September 18, 2007 (clarifying the modifications to the names of the Funds) (‘‘Amex Confirmation’’). E:\FR\FM\01OCN1.SGM 01OCN1

Agencies

[Federal Register Volume 72, Number 189 (Monday, October 1, 2007)]
[Notices]
[Pages 55841-55843]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-19274]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-56516; File No. PCAOB-2007-03]


Public Company Accounting Oversight Board; Notice of Filing and 
Immediate Effectiveness of Proposed Rule Change Adjusting 
Implementation Schedule of Rule 3523, Tax Services for Persons in 
Financial Reporting Oversight Roles

September 25, 2007.
    Pursuant to Section 107(b) of the Sarbanes-Oxley Act of 2002 (the 
``Act''), notice is hereby given that on July 24, 2007, the Public 
Company Accounting Oversight Board (the ``Board'' or the ``PCAOB'') 
filed with the Securities and Exchange Commission (the ``SEC'' or 
``Commission'') the proposed rule change described in Items I and II 
below, which items have been prepared by the Board. The PCAOB has 
designated the proposed rule change as ``constituting a stated policy, 
practice, or interpretation with respect to the meaning, 
administration, or enforcement of an existing rule'' under Section 
19(b)(3)(A)(i) of the Securities

[[Page 55842]]

Exchange Act of 1934 (as incorporated, by reference, into Section 
107(b)(4) of the Act) and Rule 19b-4(f)(1) thereunder, which renders 
the proposal effective upon receipt of this filing by the Commission. 
The Commission is publishing this notice to solicit comments on the 
proposed rule from interested persons.

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

    The PCAOB is filing with the SEC an adjustment of the 
implementation schedule for Rule 3523, Tax Services for Persons in 
Financial Reporting Oversight Roles. Specifically the Board will not 
apply Rule 3523 to tax services provided on or before April 30, 2008, 
when those services are provided during the audit period and are 
completed before the professional engagement period begins. The PCAOB 
is not proposing any textual changes to the Rules of the PCAOB by this 
filing.

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

    In its filing with the Commission, the Board included statements 
concerning the purpose of, and basis for, the proposed rule and 
discussed any comments it received on the proposed rule. The text of 
these statements may be examined at the places specified in Item IV 
below. The Board has prepared summaries, set forth in sections A, B, 
and C below, of the most significant aspects of such statements.

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

(a) Purpose
    On July 26, 2005, the Board adopted certain rules related to 
registered public accounting firms' provision of tax services to public 
company audit clients. As part of this rulemaking, the Board adopted 
Rule 3523, which provides that a registered firm, subject to certain 
exceptions, is not independent of an audit client if the firm, or an 
affiliate of the firm, provides tax services during the audit and 
professional engagement period to a person in, or an immediate family 
member of a person in, a financial reporting oversight role at an audit 
client. This rule was intended to address concerns related to auditor 
independence when auditors provide personal tax services to individuals 
who play a direct role in preparing the financial statements of public 
company audit clients. Rule 3523 was approved by the Securities and 
Exchange Commission (``SEC'' or ``Commission'') on April 19, 2006.
    Consistent with the SEC's independence rules,\1\ the phrase ``audit 
and professional engagement period'' is defined to include two discrete 
periods of time. The ``audit period'' is the period covered by any 
financial statements being audited or reviewed.\2\ The ``professional 
engagement period'' is the period beginning when the firm either signs 
the initial engagement letter or begins audit procedures, whichever is 
earlier, and ends when either the company or the firm notifies the SEC 
that the company is no longer that firm's audit client.\3\
---------------------------------------------------------------------------

    \1\ 17 CFR 210.2-01(f)(5).
    \2\ Rule 3501(a)(iii)(1).
    \3\ Rule 3501(a)(iii)(2).
---------------------------------------------------------------------------

    On April 3, 2007, the Board issued a concept release to solicit 
comment about the possible effect on a firm's independence of providing 
tax services to a person covered by Rule 3523 during the portion of the 
audit period that precedes the beginning of the professional engagement 
period and other practical consequences of applying the restrictions 
imposed by Rule 3523 to that portion of the audit period.\4\ The Board 
also adjusted the implementation schedule for Rule 3523, as it applies 
to tax services provided during the period subject to audit but before 
the professional engagement period.\5\
---------------------------------------------------------------------------

    \4\ See PCAOB Release No. 2007-002 (April 3, 2007).
    \5\ See id., at 7. Specifically, the Board stated that Rule 3523 
will not apply to tax services provided on or before July 31, 2007, 
when those services are provided during the audit period and are 
completed before the professional engagement period begins.
---------------------------------------------------------------------------

    The Board received 13 comment letters on the concept release. 
Commenters included auditors, state certified public accountant 
societies, and one investor. The majority of the commenters recommended 
that the Board amend Rule 3523 to exclude the portion of the audit 
period that precedes the beginning of the professional engagement 
period. On July 24, 2007, the Board proposed an amendment to Rule 3523 
to exclude the portion of the audit period that precedes the beginning 
of the professional engagement period, as well as a new ethics and 
independence rule regarding communication with audit committees.
    The Board has determined to further adjust the implementation 
schedule for Rule 3523 to allow sufficient time for consideration of 
commenters' views. Specifically, the Board will not apply Rule 3523 to 
tax services provided on or before April 30, 2008, when those services 
are provided during the audit period and are completed before the 
professional engagement period begins.\6\
---------------------------------------------------------------------------

    \6\ This will apply regardless of whether there is an engagement 
in process on July 31, 2007.
---------------------------------------------------------------------------

(b) Statutory Basis
    The statutory basis for the proposed rule change is Title I of the 
Act.

B. Board's Statement on Burden on Competition

    The Board does not believe that the proposed rule change will 
result in any burden on competition that is not necessary or 
appropriate in furtherance of the purposes of the Act.

C. Board's Statement on Comments on the Proposed Rule Received From 
Members, Participants or Others

    The Board did not solicit or receive written comments on the 
proposed rule change.

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

    The foregoing rule change has become effective pursuant to Section 
19(b)(3)(A) of the Securities Exchange Act of 1934 (as incorporated, by 
reference, into Section 107(b)(4) of the Act) and paragraph (f) of Rule 
19b-4 thereunder because of its designation by the PCAOB as 
``constituting a stated policy, practice, or interpretation with 
respect to the meaning, administration, or enforcement of an existing 
rule.'' At any time within 60 days of the filing of the proposed rule 
change, the Commission may summarily abrogate such rule change if it 
appears to the Commission that such action is necessary or appropriate 
in the public interest, for the protection of investors, or otherwise 
in furtherance of the purposes of the Act.

IV. Solicitation of Comments

    Interested persons are invited to submit written data, views and 
arguments concerning the foregoing, including whether the proposed rule 
is consistent with the requirements of Title I of the Act. Comments may 
be submitted by any of the following methods:

Electronic Comments

     Use the Commission's Internet comment form (http://
www.sec.gov/rules/pcaob.shtml); or
     Send an e-mail to rule-comments@sec.gov. Please include 
File Number PCAOB-2007-03 on the subject line.

[[Page 55843]]

Paper Comments

     Send paper comments in triplicate to Nancy M. Morris, 
Secretary, Securities and Exchange Commission, 100 F Street, NE., 
Washington, DC 20549-1090.

All submissions should refer to File Number PCAOB-2007-03. This file 
number should be included on the subject line if e-mail is used. To 
help the Commission 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/rules/
pcaob.shtml). Copies of the submission, all subsequent amendments, all 
written statements with respect to the proposed rule change that are 
filed with the Commission, and all written communications relating to 
the proposed rule change between the Commission and any person, other 
than those that may be withheld from the public in accordance with the 
provisions of 5 U.S.C. 552, will be available for inspection and 
copying in the Commission's Public Reference Room, 100 F Street, NE., 
Washington, DC 20549-1090, on official business days between the hours 
of 10 a.m. and 3 p.m. Copies of such filing also will be available for 
inspection and copying at the principal office of the PCAOB. All 
comments received will be posted without change; we do not edit 
personal identifying information from submissions. You should submit 
only information that you wish to make available publicly. All 
submissions should refer to File Number PCAOB-2007-03 and should be 
submitted on or before October 22, 2007.

    By the Commission.
Nancy M. Morris,
Secretary.
 [FR Doc. E7-19274 Filed 9-28-07; 8:45 am]
BILLING CODE 8011-01-P