The group will discuss the PCAOB's interim standards on auditing accounting estimates and fair value measurements. The discussion will focus on fair value within the broader context of auditing accounting estimates. 

The group also will discuss the PCAOB's interim standard on related parties with a focus on the auditor's role in assessing risks relevant to related party transactions and performing audit procedures to identify and test transactions with related parties.

In addition, as suggested by several SAG members at previous meetings, the group will engage in a panel discussion on engagement team performance. The panel will focus on the audit partner's involvement in two aspects of the audit engagement -- the planning and supervision of the audit engagement and the areas of the audit with higher risk or that involve complex issues and extensive use of professional judgment.

The meeting is open to the public and will be Webcast on www.pcaobus.org. The agenda and other documents for this meeting can be found under Standards, Standing Advisory Group.

Separately, the board is soliciting SAG member nominations and re-nominations for 15 positions. Appointments are for two-year terms. Members will be selected by the board based on nominations, including self-nominations, received from any person or organization. Current members, with terms expiring this year, may be re-nominated for another term. The nomination forms are available under Standards at www.pcaobus.org. The deadline for submissions is June 15.