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Lynn E. Turner Lynn E. Turner joined the faculty of the College of Business of Colorado State University in August 2001. He is currently a professor and the Director of The Center for Quality Financial Reporting. Mr. Turner served as the U.S. Securities and Exchange Commission ("SEC") Chief Accountant from July, 1998 to August, 2001. As Chief Accountant, Mr. Turner advised the SEC on and managed a number of important accounting and financial reporting issues, including the development and oversight of U.S. and international accounting and auditing standards, and professional independence issues. During Mr. Turner's tenure as chief accountant, he was responsible for a number of pivotal accomplishments: the Blue Ribbon Panel on Improving the Effectiveness of Audit Committees was issued, and the SEC, stock exchanges and accounting profession adopted new rules for audit committees and auditors involvement with those committees and interim financial statements; the Panel on Audit Effectiveness (O'Malley) Panel issued their report with over 200 recommendations to the improvement on how to improve the quality of audits; the SEC revised its rules governing auditor's independence; the SEC was active in establishing the new independent International Accounting Standards Board and Trustees and issued its International Concept Release; the Securities and Exchange Commission undertook its initiative on earnings management and improving the quality of financial reporting including the issuance of staff Accounting Bulletins on such topics as materiality, revenue recognition, restructuring charges and lendor's documentation of their credit policies and analysis; this same commission actively pursued a number of financial reporting and auditing cases such as WR Grace, Sunbeam, Waste Management, PricewaterhouseCoopers and Arthur Andersen; the Public Oversight Board negotiated a new charter with the accounting profession granting it greater oversight powers and responsibilities; and finally, public members were added for the first time to the AICPA Professional Ethics Executive Committee giving the public a voice in the profession's disciplinary and ethics process. |
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