Financial Services Industry
Industry: Email Alert RSS FeedAudit committees bracing for shakeup. (Working with Boards).
Financial Executive, December, 2002 by Sweeney, Paul
Sun Microsystems' board of directors recently appointed two high-profile professionals to its audit committee. In the process, Sun could well be setting the gold standard for Corporate America.
On Sept. 30, the Santa Clara, Calif-based high technology company, best known for its computer workstations and its Java language, named Lynn Turner -- the former chief accountant at the Securities and Exchange Commission and a fierce critic of many current accounting practices -- to its board. At the same time, Sun appointed its former chief financial officer, Michael Lehman, to serve alongside Turner.
"It's a gutsy move," says Patrick McGurn, vice president and special counsel at Institutional Shareholder Services, a consulting firm in Rockville, Md., that...
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