SEC ANNOUNCES PANELISTS FOR APRIL 13TH ROUNDTABLE ON IMPLEMENTATION OF INTERNAL CONTROL REPORTING PROVISIONS
FOR IMMEDIATE RELEASE
Discussions to be Webcast in Real Time
Washington, D.C., April 7, 2005 - Securities and Exchange Commission Chairman William H. Donaldson announced today the panelists for the Commission's Roundtable on Implementation of Internal Control Reporting Provisions. The Roundtable will feature a broad range of stakeholders involved with internal control reporting - including investor advocates, representatives of public companies, members of audit committees, auditors, attorneys, and U.S. regulators.
In making today's announcement, Chairman Donaldson said, "The panels are comprised of highly qualified individuals that offer significant expertise and first-hand experience on these matters. The April Roundtable is an important part of the Commission's overall efforts to study the initial implementation of the internal control reporting provisions and an open and lively discussion is expected. I am pleased that PCAOB Chairman William McDonough and his fellow board members will be joining us for the Roundtable."
Donald T. Nicolaisen, Chief Accountant, said, "I believe that the quality of the individuals who have agreed to participate in the Roundtable speaks volumes about the importance of this discussion. We intend to consider the feedback we receive carefully and evaluate whether there is additional guidance we can provide that benefits investors while - where possible - lowering the cost for companies. Because many registrants are or soon will be evaluating their internal control processes for 2005 and integrated audits are or soon will be planned and organized, we intend to act expeditiously on what we learn."
The Roundtable will cover a number of topics, including: (1) first year efforts; (2) reporting to the public; (3) planning and design; (4) documentation and testing of internal control over financial reporting; (5) the use of judgment in communications and conclusions; and (6) next steps.
The Roundtable is scheduled to take place from 9:00 a.m. to 5:30 p.m., E.D.T., in the William O. Douglas Room at SEC headquarters, 450 Fifth Street, N.W., Washington, D.C and will be open to the public with seating on a first-come, first-served basis. Doors will open at 8:00 a.m., E.D.T. The visitors' entrance to the SEC is located on Fifth Street, N.W. Visitors will be subject to security checks.
Real time and archived audio and video webcasts will be accessible at http://www.sec.gov.
Selected materials related to the Roundtable - including the day's agenda, a Briefing Paper, and materials submitted to the staff in connection with the discussions - are accessible at http://www.sec.gov/spotlight/soxcomp.htm.
Panelists will include:
- Philip D. Ameen, General Electric Company
- Mark J. P. Anson, California Public Employees' Retirement System
- The Honorable Charles A. Bowsher, Board member, various companies
- Frank H. Brod, The Dow Chemical Company
- William J. Brunner, First Indiana Corporation
- The Honorable Mary K. Bush, Bush International, Inc.
- H. Rodgin Cohen, Sullivan & Cromwell LLP
- J. Michael Cook, Audit Committee Chair/Member, various companies
- James E. Copeland, Jr., Representative of the U.S. Chamber of Commerce
- Colleen Cunningham, Financial Executives International
- Nick S. Cyprus, The Interpublic Group of Companies
- Alex Davern, National Instruments
- Samuel A. DiPiazza, Jr., PricewaterhouseCoopers International
- Lisa A. Flavin, Emerson Electric Co.
- Timothy P. Flynn, KPMG
- The Honorable Barbara Hackman Franklin, Director, Aetna, Inc.
- Kimberly Parker Gavaletz, Lockheed Martin Corporation
- Susan C. Gordon, Viacom
- Robert Greifeld, The Nasdaq Stock Market, Inc.
- Jay L. Haberland, United Technologies Corporation
- Curtis L. Hage, Home Federal Bank
- Robert Hodgkinson, Turnbull Review Group
- Keith E. Holmberg, British Petroleum
- Michele J. Hooper, The Directors' Council
- Jay Howell, BDO Seidman
- John J. Huber, Latham & Watkins LLP
- Gregory J. Jonas, Moody's Investors Service
- Larry J. Koch, Deloitte & Touche LLP
- Randall S. Kroszner, University of Chicago
- Robert J. Kueppers, Deloitte & Touche USA LLP
- Ron Lalonde, Canadian Imperial Bank of Commerce
- Debbie Lambert, Johnson, Lambert & Company
- Lee Level, Computer Sciences Corporation
- Peter Lyons, Shearman & Sterling LLP
- Rebecca McEnally, CFA Centre for Financial Market Integrity
- Robert H. Miles, Washington Mutual, Inc.
- Peter F. Minan, KPMG LLP
- Charles H. Noski, Board Member and Audit Committee Member, various
- Edward E. Nusbaum, Grant Thornton LLP
- Dr. Klaus Patzak, Siemens Aktiengesellschaft
- David L. Shedlarz, Pfizer Inc.
- Damon A. Silvers, American Federation of Labor and Congress of Industrial Organizations
- Teresa F. Sparks, Symbion, Inc.
- Garrett L. Stauffer, PricewaterhouseCoopers LLP
- Shelley S. Stein, Grant Thornton LLP
- Casey J. Sylla, Allstate Financial
- Tom Szlosek, Honeywell International Inc.
- Dr. Albert M. Teplin, Audit Committee Chair/Member, various companies
- John A. Thain, New York Stock Exchange
- James S. Turley, Ernst & Young
- Lynn E. Turner, Glass, Lewis & Co.
- Richard G. Ueltschy, Crowe Chizek & Company L.L.C.
- The Honorable David M. Walker, Comptroller General of the United States
- Ann Yerger, Council of Institutional Investors
For additional information, please contact John Heine at 202-942-0020.