"[T]he new auditing standard requires the auditor to consider: [1] Obtaining an understanding of compensation arrangements with senior management other than executive officers, including incentive compensation arrangements, changes or adjustments to those arrangements, and special bonuses; [2] Inquiring of the chair of the compensation committee ... and any compensation consultants ... regarding the structuring of the company's compensation for executive officers; and [3] Obtaining an understanding of established policies and procedures regarding the authorization and approval of executive officer expense reimbursements."  MORE >>