Word: lorsch
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...longer have to take a company's word that its audit policies are legit. The accountants have the power to challenge corporate ledgers with impunity--and they're raking in money doing so. "Auditors and audit committees are now in the catbird seat," says Harvard Business School professor Jay Lorsch. Companies no longer feel free to dump their auditors, for fear of sparking a public spat; no one wants to spook jittery investors, provoke shareholder lawsuits or another regulatory crackdown. "There's more respect for the auditor," says Julie Lindy, editor of Bowman's Accounting Report. "Companies no longer think...
...clueless as the MK board members might appear, experts in corporate governance say there is often little that outside directors can do to straighten out a com-pany before things go very wrong. "They often hear from management, 'Don't worry. It's just a temporary trend,' " says Jay Lorsch, a professor at the Harvard Business School. "It is very hard, even for a very smart group of directors, to understand these things...
Once McArthur has studied a problem comprehensively and defined a solution, it's not easy to persuade him from his stand, says Kirstein Professor of Human Relations Jay W. Lorsch, chair of the Executive Education Programs...
...bashful about what he likes to do," Lorsch says. "He listens to people, but you have to be able to convince...
Newsweek editors swung by the Lampoon earlierthis year to gauge the publication's elitistpotential, said Lampoon editor David P. Lorsch'92. Clad in black turtlenecks and smoking Frenchcigarettes, Poonsters did their best to fit thebill...