A last minute open Commission meeting has been scheduled for today at 2:30 pm EDT – so that the Commission can vote on the members of the Public Company Accounting Oversight Board. Under Sarbanes-Oxley, the Commission is charged with selecting this board by Monday.
According to the Washington Post, Commissioner Goldschmid requested the open meeting (as opposed to the Commission voting behind closed doors). The Post reports that there likely will be a division along political party lines in selecting the chair – with the 3 republicans voting for William Webster, a former FBI and CIA director – and the 2 democrats voting for John Biggs, former TIAA-CREF chair. Controversy still swirls around this issue. See more at http://www.washingtonpost.com/wp-dyn/articles/A14064-2002Oct24.html.