STEC » Topics » Review of Services and Audit by Independent Registered Public Accounting Firm
This excerpt taken from the STEC DEF 14A filed Apr 25, 2006.
Review of Services and Audit
by Independent Registered Public Accounting Firm
Have the sole authority and responsibility to appoint, evaluate, determine the compensation of and, where appropriate, replace the Independent Auditor. The Committee may, in its
discretion, seek shareholder ratification of the Independent Auditor it appoints. The Independent Auditor shall report directly to the Committee, and the Committees responsibility includes the resolution of disagreements between management and
the Independent Auditor regarding financial reporting.
Consider and pre-approve all auditing and permissible non-audit services provided by the Independent Auditor. The Committee may delegate the authority to grant pre-approvals to one
or more members of the Committee, whose decisions must be presented to the full Committee at its scheduled meetings.
Reviewing with the Independent Auditor, as required by the rules and regulations of the SEC:
All critical accounting policies and practices used by the Company;
All alternative treatments of financial information within generally accepted accounting principles that have been discussed with Company management, ramifications of the use of
such alternative disclosures and treatments, and the treatment preferred by the Independent Auditor; and
Other material communications between the Independent Auditor and management, such as any management letters or schedule of unadjusted differences.
How risky is your portfolio?
Remember that 401k from 2 jobs ago?
Taking on too much risk? Too little risk? Have no idea?
Skip the spreadsheet. Track your investments automatically.
We tally your portfolio fees so you don't have to.
You're probably paying higher fees than you think.
Translate your investment accounts from Martian to English.