Borland Adopts New Auditor Policy Banning Auditors From Non-Financial Consulting Work.Business Editors SCOTTS VALLEY, Calif.--(BUSINESS WIRE)--Feb. 28, 2002 Borland Software Corporation (company) Borland Software Corporation - A company that sells a variety of PC software development and database systems. Borland was founded in 1983 and initially became famous for their low-cost software, particularly Turbo Pascal, Turbo C, and Turbo Prolog. (Nasdaq:BORL) announced today that it has adopted a new auditor policy which bans its outside auditors from performing non-financial consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" for Borland, such as information technology consulting Information technology consulting (IT consulting or business and technology services) is a field that focuses on advising businesses on how best to use information technology to meet their business objectives. . Borland will continue to use its auditors to perform financial consulting in such areas as audits of statutory filings of foreign subsidiaries, acquisition due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. , 401-K plan audits, reviews of SEC filings and registrations and tax compliance and planning. Borland's current auditors are PricewaterhouseCoopers LLP LLP - Lower Layer Protocol . Frederick A. Ball, Borland's executive vice president and chief financial officer, stated, "This change in policy is in no way a reflection on our current auditor, PricewaterhouseCoopers LLP, but rather is to address the growing public sentiment against companies using their auditors for certain types of consulting services. In the current environment, it is important that our stockholders, and the market as a whole, have the utmost confidence in the integrity of the financial results we report and the auditing process. We are committed to taking any steps we need to take to eliminate any potential for the independence, or the perceived independence, of our outside auditors to be compromised. Just as we are a leader in providing best-in-class software development and deployment technology solutions, we want to be a leader in issuing financial reports that are transparent, easy to read and understand and, most of all, trustworthy." The Audit Committee of Borland's Board of Directors will continue its current practice of reviewing the non-audit services that Borland's auditors are engaged to perform to ensure that the work does not compromise the auditors' independence in performing their audit services. About Borland Borland Software Corporation is a leading provider of technology used to develop, deploy and integrate software applications. Delivering best-in-class technology solutions dedicated to interoperability The capability of two or more hardware devices or two or more software routines to work harmoniously together. For example, in an Ethernet network, display adapters, hubs, switches and routers from different vendors must conform to the Ethernet standard and interoperate with each other. , Borland allows enterprises of all sizes to move into Web-based computing computing - computer while leveraging legacy systems. From the Fortune 1000 to the Borland Nation comprised of millions of developers around the world, Borland provides customers the freedom to develop applications, deploy them anywhere, and integrate and manage them across the enterprise. Borland solutions enable organizations to increase productivity and deliver higher performance projects faster and on budget, while lowering total cost of ownership. Founded in 1983, Borland is headquartered in Scotts Valley, California Scotts Valley is a small city located in eastern Santa Cruz County, California, United States, about ten miles (16 km) south of San Jose and six miles (10 km) north of the beach in the upland slope of the Santa Cruz Mountains. As of the 2000 census, the city population was 11,385. with operations worldwide. To learn more, visit Borland at http://www.borland.com, the community site at http://community.borland.com, or call Borland at (800) 632-2864. All Borland brand and product names are trademarks or registered trademarks of Borland Software Corporation, in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and other countries. All other marks are the property of their respective owners. |
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