SEC, PCAOB Delay Stock Options Guide For Auditors

Law360, New York (July 7, 2006, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission and the oversight agency for accounting firms pushed off distributing the board’s guidelines related to backdating stock options to auditors until the SEC fine-tunes a proposed rule to reform executive pay disclosure.

The Public Company Accounting Oversight Board was set to send out the options timing alert after a slew of companies came under scrutiny for backdating their options grants, which let executives purchase stock at artificially low prices.

The board planned to give auditors guidelines on how to examine...
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