Blue ribbon panel reports: How you must improve your audit committee
✍ Scribed by Hurtt, David N.; Kreuze, Jerry G.; Langsam, Sheldon A.
- Publisher
- John Wiley and Sons
- Year
- 1999
- Tongue
- English
- Weight
- 112 KB
- Volume
- 11
- Category
- Article
- ISSN
- 1044-8136
No coin nor oath required. For personal study only.
✦ Synopsis
An increasing focus on earnings management, motivations to meet Wall Street earnings expectations, and pressures to project smooth earnings paths were part of the impetus of the Committee's charge. In remarks delivered on September 28, 1998, at the New York University Center for Law and Business, SEC Chairman Arthur Levitt stated that the integrity of financial reporting is under stress. In that speech, Levitt outlined a nine-point program to enhance public confidence in external reporting. One point referred to empowering audit committees to function as the ultimate guardian of investor interest and corporate accountability.