1. FAQs

• Audit Committee FAQs

2. Articles and Publications

• Grant Date of Equity Awards under FAS 123R from Morrison and Foerster LLP.(08/29/05)

• Legal Update: SEC and PCAOB Issue Important Guidance Designed to Lower the Cost of Internal Control Reviews from Morrison and Foerster. (05/24/05)

• SEC Hosts Roundtable to Examine Implementation of Section 404 Requirements; PCAOB Proposes Auditing Standard Regarding Elimination of Material Weakness from Alston & Bird LLP (04/19/05)

• Client Advisory: New Disclosures About Option Expensing from Sullivan & Worcester. (04/13/05)

• SEC Issues Guidance on Implementation of New Accounting Rules for Stock Options from Morrison & Foerster. (04/11/05)

• Securities Update: SEC Updates Frequently Asked Questions Concerning Auditor Independence from Mayer, Brown, Rowe & Maw LLP. (12/21/04)

• PCAOB Proposes New Rules Concerning Auditor Independence, Tax Services and Contingent Fees from Alston & Bird LLP. (12/16/04)

• Are Audit Committee Self-Assessments Required? from Troutman Sanders LLP. (11/15/04)

• When an “Immaterial” Mistake Costs $10 Million: The SEC Censures KPMG for, Among Other Things, Failing to Report Irregularities in “Immaterial” Transactions from Nixon Peabody LLP. (11/11/04)

• SEC Approves PCAOB Auditing Standard No. 2 for Audits of Internal Control over Financial Reporting from Paul, Weiss, Rifkind, Wharton & Garrison LLP. (07/22/04)

• SEC Adopts Rules Regarding Internal Control Over Financial Reporting – Updated from Paul, Weiss, Rifkind, Wharton and Garrison LLP. (07/14/04)

• SEC Approves PCAOB Auditing Standard on Internal Control Over Financial Reporting; Announces Additional Implementation Guidance to Follow from Gibson, Dunn & Crutcher LLP. (06/22/04)

• A New Standard for Auditing Internal Control Over Financial Reporting from Covington & Burling. (03/29/04)

• PCAOB Adopts Auditing Standard Regarding Audits of Internal Control over Financial Reporting and Delays Registration Deadline for Non-U.S. Audit Firms from Alston & Bird LLP. (03/10/04)

• Pre-Approval Policies: Guidance from the SEC’s Office of Chief Accountant from Hughes Hubbard & Reed.(11/05/03)

• Updated Model Audit Committee Pre-Approval Policy, from Wachtell, Lipton, Rosen & Katz (9/9/03)

• SEC Issues Frequently Asked Questions and Responses Regarding Non-GAAP Financial Measures, from Wachtell Lipton (6/17/03)

• Certain Effects of the New Tax Act on Corporations, from Troutman Sanders (6/2/03)

• Corporate Responsibility Alert featuring Pre-Approval of Audit and Non-Audit Engagements and Sample Annual Agenda of a Public Company Audit Committee, from Nixon Peabody (6/2/03)

• Summary of SEC rules regarding improper influence of audits, by Troutman Sanders (5/22/03)

• Summary of PCAOB registration requirements for public auditing firms, by Fried Frank (5/16/03)

• Sarbanes-Oxley Act Update: SEC Adopts New Standards for Audit Committees of Listed Companies, from White & Case (5/9/03)

• "Dramatic Changes," an article by attorneys at Mayer, Brown, Rowe & Maw summarizing the effects of Sarbanes-Oxley on accountants based outside the United States (reprinted with permission from the May 2003 issue of Accountancy magazine)

• Critical Accounting Policy Disclosure- from Morrison & Foerster (May 2002)

• New SEC Rule on Listing Standards for Audit Committees by Mayer, Brown, Rowe & Maw (4/24/03)

• Update on SFAS 141 and 142 - from Stroock & Stroock & Lavan LLP, & Richard A. Eisner & Company LLP (April 2002)

• Congressional Accounting Reforms - from Alston & Bird ( 4/26/02)

• Fortune 100 Critical Accounting Policies Survey from Shearman & Sterling (2002)

3. Resource Links

• Various Federal Agencies Issue "Interagency Advisory on the Unsafe and Unsound Use of Limitation of Liability Provisions in External Audit Engagement Letters". (02/13/06)

• PCAOB Emerging Issue Paper for Standing Advistory Group Meeting:  The Effects on Independence of Indemnification, Limitation of Liability, and Other Litigation-Related Clauses in Audit Engagement Letters. (01/26/06)

• Committee of Sponsoring Organizations of the Treadway Commission (COSO) Publishes for Comment Guidance on Section 404 Compliance. 
    - COSO Exposure Draft.
    - COSO Press Release.
    - COSO Project Overview.
    - Comment on the COSO Exposure Draft.
    - Statements of SEC's Nicolaisen and Beller Regarding the Proposed Guidance.
    - NY Times Article.(10/27/05)

• PCAOB Adopts Standard on Remediation of Material Weaknesses, Rules on Auditor Independence and Tax Services.
    - News Release.
    - Briefing Paper. (07/27/05)

• SEC Releases Staff Report on Off-Balance Sheet Arrangements, Special Purpose Entities and Related Issues.
    - Report.
    - News Release.
    - FASB Chairman Comments on Report. (06/16/05)

• FASB Issues Accounting Standard That Improves Reporting of Accounting Changes as Part of Convergence Effort with IASB.
    - News Release.
    - Accounting Standard. (06/02/05)

• SEC's Division of Corporation Finance and Office of Chief Accountant Release "Staff Statement on Management's Report on Internal Control Over Financial Reporting". (05/17/05)

• SEC Statement on Implementation of Control Reporting Requirements. (05/17/05)

• PCAOB Issues Guidance on Audits of Internal Control.
    - News Release.
    - Auditing Internal Control Over Financial Reporting, May 16, 2005 (Questions 38-55).
    - PCAOB Staff Questions and Answers Page. (05/16/05)

• Court Upholds Attorney Work Product Protection for Audit Committee Report Provided Pursuant to Confidentiality Agreement with Government from Wachtell, Lipton, Rosen & Katz. (04/21/05)

• SEC Staff Releases Staff Accounting Bulletin 107 Dealing with Accounting for Stock Options and Other Share-Based Payments. 
    - Staff Accounting Bulletin No. 107.
    - Office of Economic Analysis Memorandum:  Economic Perspectives on Employee Option Expensing - Valuation and Implementation of FAS 123(R).
    - News Release. (03/30/05)

• SEC's FAQs About the XBRL Voluntary Filing Program. (03/22/05)

• Archived Webcast of PCAOB Mar. 31 Open Meeting at Which It Proposed Standard Regarding Elimination of Material Weakness in Internal Control.
    - RealPlayer Format.
    - WindowsMedia Format. (04/04/05)

• PCAOB Votes To Propose Auditing Standard on Reporting on the Elimination of a Material Weakness.
    - News Release.
    - Proposed Auditing Standard (Release No. 2005-002).
    - Briefing Paper. (03/31/05)

• Deloitte & Touche LLP Publishes Sarbanes-Oxley Guide Entitled "Under Control:  Sustaining Compliance with Sarbanes-Oxley in Year Two and Beyond". (01/31/05)

• AICPA Issues Guidance Entitled "Management Override of Internal Controls:  The Achilles Heel of Fraud Prevention -- The Audit Committee and Oversight of Financial Reporting." (01/25/05)

• SEC's Division of Corporation Finance Issues FAQs Regarding Exemptive Order on Management's Report on Internal Control Over Financial Reporting and Related Auditor Report. (01/24/05)

• PCAOB Releases Third Set of FAQs as Additional Guidance for Audits of Internal Control. 
  - FAQs. (11/23/04)

• SEC Updates FAQs on Management's Report on Internal Control Over Financial Reporting and Certification of Disclosure in Exchange Act Periodic Reports. (10/07/04)

• PCAOB Issues Additional Guidance / FAQs Update on Auditing Internal Control Over Financial Reporting. (10/07/04)

• PCAOB Rulemaking Docket - links to rule proposals, final rules, briefings, and comments. (12/02/04)

• Selected SEC Staff Accounting Bulletins. (12/02/04)

• SEC Interpretation:  Commission Guidance Regarding the Public Company Accounting Oversight Board's Auditing and Related Professional Practice Standard No. 1. (05/18/04)

• PCAOB Auditing Standard No. 2 Audit of Internal Control Over Financial Reporting. (03/10/04)

• AICPA Publishes "How-To" Guide for Audit Committees. (12/11/03)

• PCAOB Makes Text of Final Rule on Withdrawal from Registration Available.(10/01/03)

• PCAOB Makes Text of Final Rule on Investigations and Adjudications Available.(10/01/03)

• SEC Posts Long-Awaited Reg G FAQs. (6/16/03)

• SEC Adopts Amendments to Regulation 13B-2 Prohibiting Officers, Directors and Persons Acting Under Their Direction from Improperly Influencing Auditor in Way That Could Render Financial Statements Materially Misleading (5/20/03)

• SEC Issues Final Rule Regarding Standards Relating to Listed Company Audit Committees (effective 4/25/03)

• SEC Releases Order Approving PCAOB Rules 3200T Through 3600T Providing Interim Auditing, Attestation, Quality Control, Ethics and Independence Standards (4/25/03)

• Final rules re: disclosure of off-balance sheet arrangements in MD&A (1/28/03)

• Final rules re: auditor independence (1/28/03)

• Final rules re: retention of audit records (1/24/03)

• Final rules re: disclosure about code of ethics and audit committee financial experts (1/23/03)

• Final rules re: use of non-GAAP financials (1/22/03)

• Proposed rules re: critical accounting policy disclosure (5/10/02)

• Sample Critical Accounting Policy Disclosures Critical accounting proposal flow chart.

• SEC Spotlight on Tagged Data and XBRL Initiatives. (09/30/04)

• SEC Proposes Rule To Establish Voluntary Program for Reporting Financial Information on Edgar Using XBRL. News Release. Proposing Release. Concept Release:  Enhancing Commission Filings Though the Use of Tagged Data. (09/28/04)