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Bowne Publishes Updated Audit Committee Guide

Press release from the issuing company

NEW YORK, March 25 -- Bowne Financial Print, the world's largest financial printer, leading EDGAR filer and a division of Bowne & Co., Inc., has just published The Audit Committee Guide: A Source of Information for Audit Committees of Public Company Boards of Directors (Second Edition) authored by Arthur H. Bill, a securities lawyer with the law firm of Foley & Lardner LLP. The guide provides a brief description of the rules and regulations of the Securities and Exchange Commission, NYSE, AMEX, NASD and NASDAQ Stock Market, Inc., and the accounting profession that affect the responsibilities, composition and activities of the audit committee. The guide also includes analysis of recent SEC regulations and pronouncements, sample questions for audit committees to ask in performance of their responsibilities, and an analysis of audit committee liability exposure. "The second edition of the Audit Committee Guide has been substantially expanded to provide a comprehensive and user-friendly vehicle for accessing and understanding the many new SEC and SRO post-Sarbanes-Oxley Act regulations that affect audit committee responsibilities. It helps to bring order to what has become a complicated regulatory landscape. Importantly, the Guide also provides practical guidance to audit committee members on the performance of their fundamental oversight mission of protecting the integrity of and promoting the transparency of the company's financial reporting and accounting processes," said author Arthur Bill. "The audit committee of the board of directors of a publicly traded company plays a crucial role in the corporate governance of U.S. corporations. It is responsible for overseeing the company's accounting and financial reporting, as well as monitoring and evaluating its independent and internal audit processes. With the enactment of the federal Sarbanes-Oxley Act in 2002, our country's regulatory institutions increasingly look to the audit committee to ensure the full and proper disclosure regarding the financial condition and performance of public companies," explained John Batt, Vice President, Marketing, Bowne Financial Print. "As a pioneer in the regulatory and compliance space, Bowne is committed to partnering with leading law firms, such as Foley & Lardner, to provide our clients with the latest information and tools they need to comply with audit committee standards, as well as other SEC and stock exchange requirements," Batt continued. Valuable information found in this helpful guidebook includes: -- Responsibilities, composition and activities of the audit committee -- How to discuss annual and quarterly financial statements with the auditor -- What to look for in the auditor's reports and related disclosures -- How to prepare annual audit committee reports -- What to do if corporate counsel receives evidence of violations -- How to institute and manage internal controls and procedures for financial reporting -- Procedures for audit committee review of periodic reports and earnings releases -- Sample questions for audit committees to ask -- Current "best practices" for improving the effectiveness of audit committees -- Selected rules/provisions of the Sarbanes-Oxley Act and the Securities Exchange Act -- Selected rules/provisions of the NYSE, NASDAQ, AMEX and AICPA -- Sample audit committee agenda and annual work plan This is a working guide that anyone involved with corporate audit committees, including directors and public company executives, investment bankers, in-house counsel, outside lawyers, accountants and auditors -- in fact anyone who needs to know the obligations of a corporate audit committee -- will find relevant and up-to date. The guide is a comprehensive research compendium tidily compressed into a paper bound book. A printed copy of The Audit Committee Guide is available at your local Bowne office or can be downloaded for free at http://www.bowne.com/.