Survey Results: Audit Committees and Earnings Releases
 1. Does your Audit Committee
review your company's earnings releases prior to their release to the
media?(Total responses: n=69)
(select only one) |
| n=62 (89.86%) |
Yes |
| n=7 (10.14%) |
No |
2. If the answer to #1 is
'Yes,' how many days prior to public issuance of the earnings release is
a draft typically sent to the Audit Committee? (Total responses:
n=62)
(select only one) |
| n=9 (14.52%) |
One day or less |
| n=20 (32.26%) |
Two days |
| n=15 (24.19%) |
Three days |
| n=18 (29.03%) |
Four days or more |
If the answer to #1 is
'Yes,' does the Audit Committee hold a meeting for the purpose of
discussing each earnings release? (Total responses: n=62)
(select only one) |
| n=50 (80.65%) |
Yes, and mostly (or all) by telephone meetings |
| n=8 (12.90%) |
Yes, and mostly (or all) by face-to-face meetings |
| n=4 (6.45%) |
No |
If the answer to #3 is 'No,'
is the Audit Committee informed about issues that will be discussed in
the related earnings release? (Total responses: n=14)
(select only one) |
| n=1 (7.14%) |
Yes, in writing |
| n=10 (71.43%) |
Yes, at a meeting |
| n=3 (21.43%) |
No |
5. Does your Audit Committee
hold a separate meeting to review draft Forms 10-Q and 10-K (and at the
same meeting, review the CEO's and CFO's certification of the Forms 10-Q
and 10-K)?(Total responses: n=69)
(select only one) |
| n=47 (68.12%) |
Yes |
| n=22 (31.88%) |
No |
|
