It calls for a much tougher "audit cop" than does the SEC, proposing, for instance, to set up a full-time independent board of audit regulation.
In 1870 he forced the passage of a new city charter creating a board of audit by means of which he and his associates could control the city treasury.
An accounting released last week by Japan's Board of Audit, an independent agency, also revealed that about half of the country's reconstruction budget of 19 trillion yen (nearly $239 billion) has yet to be spent amid confusion and indecision over rebuilding strategies in the wake of the catastrophes in March 2011.
Japan's Board of Audit reprimanded two officials at the cooperative after it discovered the forgery scandal in June 2004.
Late today, another Congressional committee investigating Enron's downfall, the House Energy and Commerce Committee, said both Mr. Skilling and Mr. Fastow would testify next Thursday, along with Enron's chief accounting officer, Richard A. Causey; its chief risk officer, Richard B. Buy; and the board of directors' audit committee chairman, Robert K. Jaedicke.
That means the auditors will be hired and fired by the board of directors' audit committee.
That simple process blew up when it became known that Webster sat on the board of directors' audit committee of an outfit called U.S. Technologies, now essentially defunct, that lately billed itself as an Internet incubator.
Any company these days is bound to be on the borderline of violating some antitrust statute, some environmental regulation, or some other law.If auditors do find clear instances of payoffs to government officials, or violations of other regulations, they should report them to the board of directors' audit committee and see that proper action is taken that, Seidler says, is their duty.
General practitioners are under-supported due to an absence of medical advisory boards, a lack of audit, review and monitoring systems and communication difficulties between physicians, nursing staff and carers.
Now to the story of Harken Energy, as reported in The Wall Street Journal on March 4. In 1989 Mr. Bush was on the board of directors and audit committee of Harken.
In a poll conducted in December 2003 by CFO Magazine, a sister publication of The Economist, more than 60% of the finance executives polled said they spent more time involved with their company's board of directors or audit committees after Enron.
