Section 109 of the Sarbanes-Oxley Act of 2002 provides that funds to cover the Board's annual budget (less registration and annual fees paid by public accounting firms to cover the cost of processing and reviewing registration applications and annual reports) are to be collected from public companies, including both U.S. companies and foreign private issuers, and investment companies.

The board vote on the proposed public company funding rules would begin a rulemaking process that includes consideration of public comment. Following the close of the comment period, the PCAOB will determine whether to amend its proposal, will adopt final public company funding rules, and will submit those rules to the SEC for approval.

The meeting will take place at 1:30 p.m. at the Securities and Exchange Commission's Washington, D.C. headquarters.