Word: auditions
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...recently completed audit of research experimentation at the Harvard Medical School (HMS), federal health officials discovered a smattering of unethical procedures that members of the faculty had been employing in research involving human subjects...
According to this year’s waste audit by Harvard Recycling & Waste Management and the Resource Efficiency Program, 42 percent of the trash found in garbage bins across campus could have been recycled...
...congressional audit recently found that the system is largely unproved and its technical challenges "remain significant." A senior Pentagon official told Congress last week that one of the missile shield's key satellite systems will cost more and take longer to get into orbit than planned. A day later, 49 retired U.S. military generals and admirals, including William Crowe, former chairman of the Joint Chiefs of Staff, urged President Bush to delay building the system until the bugs are worked out. Among other things, no one knows whether the system will work at night or in bad weather...
...meter is running. The death of the Arthur Andersen firm, which dissolved after being found guilty of obstructing justice in the Enron case, reduced the Big Five accounting firms to the Final Four. That in part is why audit fees for FORTUNE 500 companies are expected to climb 38% this year, according to a survey by the Public Accounting Report. Top lines for accounting firms already look healthier. Ernst & Young booked a 17.4% revenue increase in its 2003 fiscal year, to $5.3 billion. Grant Thornton booked a 21% increase, to $485 million. The other winners? Smaller shops, which are absorbing...
...clients. The largest U.S. companies will typically spend more than $4.6 million each to comply with just one section of the law, according to Financial Executives International. And large companies complain that the get-tough accounting regimen is draining resources. Paul Schmidt, controller for General Motors, says GM's audit committee meets "six to seven times face to face and four to five times by teleconference" annually. The "bigger drain," says Schmidt, is that GM's chairman and CFO are spending more time on accounting and certification issues, "instead of on strategy...