Corporate introspection in the nineties: "to thine own self be true."

Article Abstract:

Public companies should carefully consider what documents should be generated and the need for self-evaluations because of the general anti-corporate public attitude, which is reflected in federal law and courts. Corporations should assume that any document can become public information in a suit and use this assumption to control what documents are created. Therefore, while self-evaluations help the corporation prevent wrongdoing, privacy and confidentiality issues must be considered before any actions are taken.

Analysis, Corporations, Confidential communications, Discovery (Law), Privileges and immunities

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Personal trading by portfolio managers revisited: the Institute's recommendations a year later

Article Abstract:

The Investment Company Institute's 1994 recommendations on voluntary restraints on portfolio managers' personal trading had been adopted by many mutual funds by 1995. A survey suggests the recommendations are base-line standards that will become standard industry practice. Companies departing from the recommendations could place themselves at risk so they should document reasons for modifying or rejecting the recommendations. Non-investment companies' advisers may also find the recommendations useful.

Securities industry, Mutual funds, Insider trading in securities, Insider trading (Securities)

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More than "classical GAAS": audits and corporate illegality under the Litigation Reform Act

Article Abstract:

The Private Securities Litigation Reform Act of 1995 changed the reporting standard for auditors. Under the act, they are required to use auditing procedures developed to discover illegal acts by their clients and, if the clients do not take remedial action, auditors are to report their findings directly to the SEC. These requirements are not part of generally accepted auditing standards. Steps auditors should take to handle these requirements are discussed.

Standards, Auditing, Auditors

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