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Strategies & Market Trends : Option Granting Practices and exploits -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (59)	10/20/2006 11:30:21 AM
From: Glenn Petersen	Read Replies (1) \| Respond to of 165

When I was auditing public companies in the 1980s, we would always request copies of the board minutes (as well as the minutes for the various board committees) from management, and include references (as to completeness and accuracy) to the minutes in the representation letters that were requested from both management and the attorneys. I don't know what auditors are doing today, though it would not surprise me if they were requesting representations from the individual directors. I may have a bias here, but I think that company executives might be more inclined to discuss questionable behavior with their attorneys before turning to the accountants. The backdating scandal continues to fly mostly under the radar screen. No outrage, no calls for heads on pikes.