Sen. Rod Grams, chairman of the Subcommittee on Securities, has announced an oversight hearing on the proposed rule issued by the Securities and Exchange Commission to restrict the types of services independent public auditors may provide to audit clients.

"The proposed rules on auditor independence were issued for comment by the Securities and Exchange Commission in early July," Grams said. "Since that time the proposed rules have generated both intense interest and wide disparity of views on their potential impact. The purpose of this hearing is to allow the SEC an opportunity to present its case for the rules, and for the potentially impacted parties and knowledgeable industry experts to express their views as well."

WHAT:
Subcommittee on Securities
"SEC Proposed Auditor Independence Rules"

WHEN:
9:30 a.m. Thursday, Sept. 28, 2000

WHERE:
Room 538, Dirksen Senate Building

WHO:
The Honorable Arthur Levitt
Chairman
Securities and Exchange Commission

Mr. Rick Antle
Professor of Accounting
Yale University School of Management

Mr. John H. Biggs
Chairman, President and CEO
TIAA-CREF

Mr. Barry Melancon
President
American Institute of Certified Public Accountants

Mr. Shaun F. O'Malley
Chairman
Public Oversight Board, Panel on Audit Effectiveness