Oversight Board to Vote on Registering Firms

The accounting oversight board set up to regulate the accounting industry said it would vote next week on adopting a system to register accounting firms, marking the start of its rule-making initiatives.

Under the Sarbanes-Oxley Act passed last summer, all accounting firms that audit public companies must register with the Public Company Accounting Oversight Board. The firms have 180 days to register with the board once it is fully operational.