Re: Some K and CC thoughts, fatwollit
in response to
by
posted on
Aug 24, 2009 06:21AM
That seems pretty evident, simply by the fact that it was the Audit Committee who called for the assessment by Baroni
The Audit Committee of the Board of Directors assists the Board of Directors in fulfilling its responsibility for oversight of the quality and integrity of the accounting, auditing, and reporting practices of the Company, and such other duties as directed by the Board. The Committee's purpose is to oversee the accounting and financial reporting processes of the Company, the audits of the Company's financial statements, the qualifications of the public accounting firm engaged as the Company's independent auditor to prepare or issue an audit report on the financial statements of the Company and internal control over financial reporting, and the performance of the Company's internal audit function and independent auditor. The Committee reviews and assesses the qualitative aspects of financial reporting to shareholders, the Company's processes to manage business and financial risk, and compliance with significant applicable legal, ethical, and regulatory requirements. The Committee is directly responsible for the appointment (subject to shareholder ratification), compensation, retention, and oversight of the independent auditor.
The Committee will have the resources and authority necessary to discharge its duties and responsibilities. The Committee has sole authority to retain and terminate outside counsel or other experts or consultants, as it deems appropriate, including sole authority to approve the firms' fees and other retention terms. The Company will provide the Committee with appropriate funding, as the Committee determines, for the payment of compensation to the Company's independent auditor, outside counsel, and other advisors as it deems appropriate, and administrative expenses of the Committee that are necessary or appropriate in carrying out its duties. In discharging its oversight role, the Committee is empowered to investigate any matter brought to its attention. The Committee will have access to the Company's books, records, facilities, and personnel. Any communications between the Committee and legal counsel in the course of obtaining legal advice will be considered privileged communications of the Company, and the Committee will take all necessary steps to preserve the privileged nature of those communications.
The Committee may form and delegate authority to subcommittees and may delegate authority to one or more designated members of the Committee.
http://www.microsoft.com/about/companyinformation/corporategovernance/committees/audit.mspx
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Maybe he was but, as usual, the lack of clarity, I suspect, is having a far greater influence on the SP than anything said here, one way or the other.
Does this assume that once the '336 is recertified, with the potential increase in licensing, that the price will remain unchanged?
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Why are the non-executives criticized for allegedly not doing their job, then when they do do their job(Baroni), they are criticized yet again, with the added bonus of conflicts between them and the CEO thrown in for good piffle. woffle and FUD?