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