Mr. Richards will serve as Independent Examiner for at least eighteen months. In that role, Mr. Richards will, among other things, examine Computer Associates' compliance with the terms and conditions of the Final Judgment and DPA; make recommendations to Computer Associates' Board of Directors for review and implementation, after consultation with the SEC and USAO, regarding best practices in the specified areas; issue quarterly reports to the SEC and USAO, and Computer Associates' Board of Directors; and, at the conclusion of his term, prepare and deliver to the Court, SEC, USAO, and Board of Directors a Final Report describing the extent of Computer Associates' compliance with the Final Judgment, DPA and order appointing Mr. Richards. The "best practices" at Computer Associates that Mr. Richards will examine, as listed in the Final Judgment and DPA, include (1) practices for recognition of software licensing revenue; (2) internal accounting controls; (3) implementation of a new "enterprise resource planning" information technology system; (4) the adequacy of the Internal Audit Department; (5) ethics and compliance policies; and (6) management policies and procedures.
Mr. Richards is a partner in the New York law firm of Richards Spears Kibbe & Orbe LLP.
