FEI responds to SEC and PCAOB Section 404 guidance.

• Position: Securities and Exchange Commission; Public Company Accounting Oversight Board - Brief article

On Feb. 26, 2007, FEI responded to the U.S. Securities and Exchange Commission (SEC) and Public Company Accounting Oversight Board (PCAOB) proposed guidance and standards related to the implementation of Section 404 of the Sarbanes Oxley Act.

FEI's Committee on Corporate Reporting (CCR) and its Small Public Company Task Force (SPCTF) both provided comments to the agencies in this matter. Specifically, the committees responded to the SEC's proposed interpretive guidance for management regarding its evaluation of internal control over financial reporting and related rule amendments, and the PCAOB's proposed auditing standards, An Audit of Internal Control Over Financial Reporting That is Integrated with An Audit of Financial Statements, and Considering and Using the Work of Others in an Audit.

Overall, the two committees supported the efforts of the SEC and the PCAOB in developing the proposed guidance and standards. They indicated that the...