SEC Announces Panelists for April 13th Roundtable on Implementation of Internal Control Reporting Provisions
The SEC announced panelists for a 2005 roundtable on implementing internal control reporting under SOX, bringing together auditors, executives, and regulators to discuss compliance best practices—no fraud, charges, or financial misconduct were involved.
The SEC held a roundtable on April 13, 2005, to gather stakeholder input on implementing Section 404 of the Sarbanes-Oxley Act regarding internal control over financial reporting. Panelists included senior auditors from PwC, KPMG, Deloitte, and Ernst & Young, corporate executives from GE, Dow, and Lockheed Martin, regulators like PCAOB Chairman William McDonough, and investor advocates. No fraud, penalties, or enforcement actions were associated with the event—it was purely a policy forum aimed at refining guidance and reducing compliance burdens while protecting investors.
On April 7, 2005, the SEC announced the panelists for a roundtable scheduled for April 13, 2005, to examine the initial implementation of internal control reporting requirements under Section 404 of the Sarbanes-Oxley Act. The event brought together a diverse group of stakeholders, including auditors from PricewaterhouseCoopers, KPMG, Deloitte, and Ernst & Young; corporate executives from General Electric, Dow Chemical, Lockheed Martin, and Pfizer; regulators such as PCAOB Chairman William McDonough and SEC Chief Accountant Donald Nicolaisen; and investor advocates from CalPERS and the Council of Institutional Investors. The goal was not to investigate misconduct but to foster an open dialogue on challenges in designing, documenting, and testing internal controls, with the aim of improving regulatory guidance. Topics included first-year implementation experiences, public reporting, use of professional judgment, and next steps for compliance. SEC Chairman William H. Donaldson emphasized the expertise of the participants and the importance of balancing investor protection with cost efficiency for companies. The roundtable was open to the public, webcast live, and supported by publicly accessible materials on the SEC’s website. No allegations of fraud, financial penalties, or enforcement actions were connected to this event—it was a purely advisory and policy-oriented forum to refine SOX compliance practices.
Extracted insights
- person alex davern
- person barbara hackman franklin
- person bdo seidman
- company board member, bush international inc
- person british petroleum
- person chief accountant
- person colleen cunningham
- person curtis l. hage
- company director, aetna inc
- person donald t. nicolaisen
- company emerson electric co.
- person financial executives international
- company first indiana corporation
- person frank h. brod
- company general electric company
- person home federal bank
- person h. rodgin cohen
- person jay howell
- person jay l. haberland
- person j. michael cook
- person john j. huber
- person keith e. holmberg
- person kimberly parker gavaletz
- company lockheed martin corporation
- person mark j. p. anson
- person mary k. bush
- person michele j. hooper
- person national instruments
- person nick s. cyprus
- person pcaob chairman
- person philip d. ameen
- person pricewaterhousecoopers international
- person robert greifeld
- person robert hodgkinson
- agency sec chairman
- agency Securities and Exchange Commission
- company sullivan & cromwell llp
- person susan c. gordon
- company the dow chemical company
- company the nasdaq stock market inc
- SEC announced Panelists For April 13th Roundtable On Implementation Of Internal Control Reporting Provisions
- William H. Donaldson is SEC Chairman
- William H. Donaldson announced Panelists For Roundtable On Implementation Of Internal Control Reporting Provisions
- William McDonough is PCAOB Chairman
- Donald T. Nicolaisen is Chief Accountant
- Roundtable scheduled for April 13, 2005, 9:00 a.m. to 5:30 p.m. EDT
- Roundtable located at William O. Douglas Room, SEC Headquarters, 450 Fifth Street NW, Washington DC
- Philip D. Ameen works for General Electric Company
- Mark J. P. Anson works for California Public Employees' Retirement System
- Frank H. Brod works for The Dow Chemical Company
- William J. Brunner works for First Indiana Corporation
- Mary K. Bush is Board Member, Bush International Inc
- H. Rodgin Cohen works for Sullivan & Cromwell LLP
- J. Michael Cook is Audit Committee Chair/Member, Various Companies
- James E. Copeland Jr. represents U.S. Chamber Of Commerce
- Colleen Cunningham works for Financial Executives International
- Nick S. Cyprus works for The Interpublic Group Of Companies
- Alex Davern works for National Instruments
- Samuel A. DiPiazza Jr. works for PricewaterhouseCoopers International
- Lisa A. Flavin works for Emerson Electric Co.
- Timothy P. Flynn works for KPMG
- Barbara Hackman Franklin is Director, Aetna Inc
- Kimberly Parker Gavaletz works for Lockheed Martin Corporation
- Susan C. Gordon works for Viacom
- Robert Greifeld works for The Nasdaq Stock Market Inc
- Jay L. Haberland works for United Technologies Corporation
- Curtis L. Hage works for Home Federal Bank
- Robert Hodgkinson works for Turnbull Review Group
- Keith E. Holmberg works for British Petroleum
- Michele J. Hooper works for The Directors' Council
- Jay Howell works for BDO Seidman
- John J. Huber works for Latham & Watkins
SEC ANNOUNCES PANELISTS FOR APRIL 13TH ROUNDTABLE ON IMPLEMENTATION OF INTERNAL CONTROL REPORTING PROVISIONS FOR IMMEDIATE RELEASE 2005-50 Discussions to be Webcast in Real Time Washington, D.C., April 7, 2005 - Securities and Exchange Commission Chairman William H. Donaldson announced today the panelists for the Commission's Roundtable on Implementation of Internal Control Reporting Provisions. The Roundtable will feature a broad range of stakeholders involved with internal control reporting - including investor advocates, representatives of public companies, members of audit committees, auditors, attorneys, and U.S. regulators. In making today's announcement, Chairman Donaldson said, "The panels are comprised of highly qualified individuals that offer significant expertise and first-hand experience on these matters. The April Roundtable is an important part of the Commission's overall efforts to study the initial implementation of the internal control reporting provisions and an open and lively discussion is expected. I am pleased that PCAOB Chairman William McDonough and his fellow board members will be joining us for the Roundtable." Donald T. Nicolaisen, Chief Accountant, said, "I believe that the quality of the individuals who have agreed to participate in the Roundtable speaks volumes about the importance of this discussion. We intend to consider the feedback we receive carefully and evaluate whether there is additional guidance we can provide that benefits investors while - where possible - lowering the cost for companies. Because many registrants are or soon will be evaluating their internal control processes for 2005 and integrated audits are or soon will be planned and organized, we intend to act expeditiously on what we learn." The Roundtable will cover a number of topics, including: (1) first year efforts; (2) reporting to the public; (3) planning and design; (4) documentation and testing of internal control over financial reporting; (5) the use of judgment in communications and conclusions; and (6) next steps. The Roundtable is scheduled to take place from 9:00 a.m. to 5:30 p.m., E.D.T., in the William O. Douglas Room at SEC headquarters, 450 Fifth Street, N.W., Washington, D.C and will be open to the public with seating on a first-come, first-served basis. Doors will open at 8:00 a.m., E.D.T. The visitors' entrance to the SEC is located on Fifth Street, N.W. Visitors will be subject to security checks. Real time and archived audio and video webcasts will be accessible at http://www.sec.gov. Selected materials related to the Roundtable - including the day's agenda, a Briefing Paper, and materials submitted to the staff in connection with the discussions - are accessible at http://www.sec.gov/spotlight/soxcomp.htm. Panelists will include: Philip D. Ameen, General Electric Company Mark J. P. Anson, California Public Employees' Retirement System The Honorable Charles A. Bowsher, Board member, various companies Frank H. Brod, The Dow Chemical Company William J. Brunner, First Indiana Corporation The Honorable Mary K. Bush, Bush International, Inc. H. Rodgin Cohen, Sullivan & Cromwell LLP J. Michael Cook, Audit Committee Chair/Member, various companies James E. Copeland, Jr., Representative of the U.S. Chamber of Commerce Colleen Cunningham, Financial Executives International Nick S. Cyprus, The Interpublic Group of Companies Alex Davern, National Instruments Samuel A. DiPiazza, Jr., PricewaterhouseCoopers International Lisa A. Flavin, Emerson Electric Co. Timothy P. Flynn, KPMG The Honorable Barbara Hackman Franklin, Director, Aetna, Inc. Kimberly Parker Gavaletz, Lockheed Martin Corporation Susan C. Gordon, Viacom Robert Greifeld, The Nasdaq Stock Market, Inc. Jay L. Haberland, United Technologies Corporation Curtis L. Hage, Home Federal Bank Robert Hodgkinson, Turnbull Review Group Keith E. Holmberg, British Petroleum Michele J. Hooper, The Directors' Council Jay Howell, BDO Seidman John J. Huber, Latham & Watkins LLP Gregory J. Jonas, Moody's Investors Service Larry J. Koch, Deloitte & Touche LLP Randall S. Kroszner, University of Chicago Robert J. Kueppers, Deloitte & Touche USA LLP Ron Lalonde, Canadian Imperial Bank of Commerce Debbie Lambert, Johnson, Lambert & Company Lee Level, Computer Sciences Corporation Peter Lyons, Shearman & Sterling LLP Rebecca McEnally, CFA Centre for Financial Market Integrity Robert H. Miles, Washington Mutual, Inc. Peter F. Minan, KPMG LLP Charles H. Noski, Board Member and Audit Committee Member, various Edward E. Nusbaum, Grant Thornton LLP Dr. Klaus Patzak, Siemens Aktiengesellschaft David L. Shedlarz, Pfizer Inc. Damon A. Silvers, American Federation of Labor and Congress of Industrial Organizations Teresa F. Sparks, Symbion, Inc. Garrett L. Stauffer, PricewaterhouseCoopers LLP Shelley S. Stein, Grant Thornton LLP Casey J. Sylla, Allstate Financial Tom Szlosek, Honeywell International Inc. Dr. Albert M. Teplin, Audit Committee Chair/Member, various companies John A. Thain, New York Stock Exchange James S. Turley, Ernst & Young Lynn E. Turner, Glass, Lewis & Co. Richard G. Ueltschy, Crowe Chizek & Company L.L.C. The Honorable David M. Walker, Comptroller General of the United States Ann Yerger, Council of Institutional Investors For additional information, please contact John Heine at 202-942-0020. http://www.sec.gov/news/press/2005-50.htm Home | Previous Page Modified: 04/07/2005