Attmore Robert Attmore, former deputy state comptroller of New York, was recently elected chairman of the Governmental Accounting Standards Board, effective July, 2004. Attmore is president of Albany N.Y.-based Attmore & Associates, where he provides consulting services to government agencies and other entities. Attmore, who spent 23 years with the State of New York, will […]
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Posted inAccounting & Auditing
Non-Audit Services Comprised One-Third Of Fees
A Compliance Week analysis of January 2004 filings shows that average non-audit fees comprised 33.6 percent of payments to auditors. The average non-audit fee paid was more than $860,000.
Posted inBoards & Shareholders
Pension Giants May Push Environmental Disclosures
Move over staggered boards, poison pills and golden parachutes. Here comes the Green Wave. California State treasurer Phil Angelides has launched a four-prong environmental initiative with the goal to boost the financial returns of pensioners and tax payers, create jobs and clean up the environment. Angelides is calling on the state’s two large public pension […]
Posted inFrom the Archive
Raytheon Appoints New Director, Replaces Chairman
Stuntz $18.1 billion defense contractor Raytheon recently named Linda Stuntz, former deputy secretary of the U.S. Department of Energy, to its board of directors. Stuntz is a principal in the law practice of Stuntz, Davis & Staffier, specializing in energy and environmental issues, as well as matters relating to government support of technology development and […]
Posted inRegulatory Enforcement
SOX May Not Be Having Impact On Class Action Filings
Though 2003 brought three of the largest shareholder class action settlements of all time, researchers at NERA Economic Consulting have found that Sarbanes-Oxley has had “no statistically significant impact” on class action filings, settlement values or recovery rates. Buckberg According to the research, led by Dr. Elaine Buckberg, all those key metrics have remained flat […]
Posted inFrom the Archive
Xerox Executive Joins Board Of American Express
Burns $25.8 billion American Express recently announced that Ursula Burns, senior corporate vice president of business group operations with Xerox, has been elected to its board of directors. Named by Fortune magazine as one of America’s “most powerful black executives” in 2002, Burns has been with $15.7 billion Xerox since 1980 in a variety of […]
Posted inRegulatory Enforcement
First Whistleblower Regains Job Under Sarbanes-Oxley
The chief financial officer of a puny bank in a rural Virginia town appears to be the first individual to get back his job under the new whistleblower rules mandated by the Sarbanes-Oxley Act. On Jan. 28, Stephen L. Purcell, Administrative Law Judge for the Department of Labor, published an order that David Welch be […]
Posted inFrom the Archive
Former HUD General Counsel Joins $15.8b Exelon Board
Diaz The Hon. Nelson Diaz, former city solicitor of Philadelphia, was recently elected to the board of Exelon, a $15.8 billion energy concern. Diaz, who served as Philadelphia’s solicitor from December 2001 until his resignation last month, had previously been a partner with the law firm Blank Rome Comisky & McCauley. He also was appointed […]
Posted inBoards & Shareholders
House Subcommittee Hears Views On Noisy Withdrawal
TESTIMONY CarrAmerica General Coun-sel Linda Madrid (ACCA) Palmer & Dodge Senior Partner Stanley Keller University of Illinois Law Professor Richard Painter More: Piper Rudnick’s Peter Moser; Other Testimony Aast week, the U.S. House Subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises—which oversees the securities industry and the SEC—held a hearing on the SEC’s “noisy […]