TITLE II - AUDITOR INDEPENDENCE
SEC. 204. AUDITOR REPORTS TO AUDIT COMMITTEES.
Section 10A of the Securities Exchange Act of 1934 (15 U.S.C. 78j–1),
as amended by this Act, is amended by adding at the end the following:
"(k) REPORTS TO AUDIT COMMITTEES. - Each registered public accounting
firm that performs for any issuer any audit required by this title shall timely
report to the audit committee of the issuer -
"(1) all critical accounting policies and practices to
be used;
"(2) all alternative treatments of financial information
within generally accepted accounting principles that have been discussed with
management officials of the issuer, ramifications of the use of such alternative
disclosures and treatments, and the treatment preferred by the registered public
accounting firm; and
"(3) other material written communications between the
registered public accounting firm and the management of the issuer, such as
any management letter or schedule of unadjusted differences.".
About OpenPages
OpenPages is the leading provider of Governance, Compliance and Risk
Management solutions
for Sarbanes-Oxley Compliance, Financial Controls Management, General
Compliance Management, Operational
Risk Management and IT
Governance.
The company’s solutions provide the visibility, decision support and
control to improve accountability, better manage risk, achieve compliance
with numerous regulations, improve operational performance and align strategies
to ensure better results.
Market-leading corporations in financial services, manufacturing, telecommunications,
media/entertainment, retail/consumer, energy, high technology, health services
and life sciences rely on OpenPages to help them achieve sustainable governance,
risk and compliance management -- enabling them to become well-governed businesses.
Founded in 1996, the company is headquartered in Waltham, Massachusetts, with
regional offices throughout North America and international offices in London, Munich, Paris, Tokyo and Hong Kong.
For more information on OpenPages' suite of business governance software solutions
or to register for an online demonstration, please call 781-693-5999 or visit
www.openpages.com.
|
