NEW YORK, April 29, 2004—Weil, Gotshal & Manges LLP, one of t…

NEW YORK, April 29, 2004—Weil, Gotshal & Manges LLP, one of the world’s leading law firms, today announced the publication of the second edition of the book Audit Committees: Regulation and Practice, edited by retired partner Gerald S. Backman and associate Anne Marie Salan. The new edition addresses the changes made in the rules and regulations governing audit committees by the Sarbanes-Oxley Act of 2002. Published by Aspen Publishers, it is available for purchase from the publisher ( and on

The editors compiled this edition as a working volume on audit committees for everyday use by corporate audit committee members, directors, general counsel, outside legal counsel and legal scholars specializing in this area of corporate governance.

Audit Committees: Regulation and Practice contains all the materials one might need to consult in order to create, maintain, advise or serve on a well-functioning audit committee, including:

· the relevant provisions of the Sarbanes-Oxley Act
· the newly adopted Securities and Exchange Commission rules and regulations impacting audit committee independence, duties, powers and disclosures

· the listing standards of the New York Stock Exchange, NASDAQ and the American Stock Exchange relating to audit committee composition, responsibilities and functions.

It also includes an illustrative selection of best practices for audit committee chairs and members as well as a section on the role of the audit committee in corporate governance by Weil Gotshal senior partner Ira M. Millstein, who has been at the forefront of corporate governance reform for many years.

Backman, a retired partner of Weil Gotshal, is a recognized authority on federal securities laws. Salan, an associate in the firm’s London office, focuses on international corporate finance.