DETAILS Download The Study On Public Company Views Of Auditors Download The Original Study On Accounting Firm Consolidation As a follow-up to its August study on auditor consolidation, the GAO last week published a report that looked at large public company views on audit fees, quality and choice. The report found “high levels of satisfaction” […]
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Posted inInternal Controls
PCAOB Internal Control Standards
On Oct. 7, The Public Company Accounting Oversight Board unanimously voted to propose and issue for public comment a standard on an audit of “internal control over financial reporting.” The Board also unanimously voted to propose and issue for public comment a rule which clearly defines terms used in auditing to assist firms in complying […]
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Proposed Amendment To The Organizational Sentencing Guidelines
Download the text of the proposed amendment to the federal sentencing guidelines that pertain to effective compliance programs.
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Report Of The Ad Hoc Advisory Group On The Organizational Sentencing Guidelines
Download the complete 141-page report from the Ad Hoc Advisory Group that recommended changes to the federal sentencing guidelines.
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Seven Components Of An Effective Compliance Program
Below is the actual text from the guidelines articulating the seven components of an effective compliance program: Document: 2001 Federal Sentencing Guideline Manual Chapter: §8A1.2.Application Instructions – Organizations Section: Commentary: Application Notes: 3(k) Click Here to View the Actual Document – Scroll Down to “Commentary” Section 3(k) (k) An “effective program to prevent and detect […]
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Summary Report Of The Ad Hoc Advisory Group On The Organizational Sentencing Guidelines
Brief, five=page executive summary of the Ad Hoc Advisory Group’s recommended changes to the organizational sentencing guidelines.
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A Fresh Look at Executive Compensation
The events of the past few weeks are a harbinger of the intense scrutiny of executive compensation that can be expected. When various members of the NYSE Board indicated their “surprise” at the magnitude of Dick Grasso’s compensation, it was a timely reminder to public companies to revisit their compensation policies and procedures. Here are […]
Posted inBoards & Shareholders
Variations In Ways Companies Prompting Shareholder-Board Communications
An Aug. 6 SEC proposal would require disclosure of shareholder procedures for communicating with directors, and new rules effective back in April require audit committees to establish procedures for the receipt and treatment of complaints regarding accounting and auditing matters. These new “communications disclosure” requirements prompted to us look at the practices and wording being […]
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AFSCME Survey: Views Of Corporate Governance
Survey conducted by Harris Interactive claims 80 percent of investors “want the right to offer investor-nominated board candidates through the proxy ballot.”
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Top Five Compensation Policy Changes
TOP FIVE Top five compensation policy changes in 2002/2003: 23% Altered long-term incen-tive plan (LTIP) structure 11% Modified metrics for long-term/short-term incentives 9% Introduced exec. stock ownership requirements 6% Created holding period after exercising options 6% Granted exec(s) special one-time retention award View “Trends in Compen-sation Policies & Practices” SOURCE: Equilar An analysis of compensation […]