From a recent book on Islamic jurisprudence from a major Egyptian Sunni madrasa:
http://en.wikipedia.org/wiki/Umdat_al-Salik_wa_Uddat_al-Nasik
http://en.wikipedia.org/wiki/Al-Azhar
e4.3 Circumcision is obligatory (O: for both men and women. For men it consists of removing the prepuce from the penis, and for women, removing the prepuce (Ar. Bazr) of the clitoris (n: not the clitoris itself, as some mistakenly assert). (A: Hanbalis hold that circumcision of women is not obligatory but sunna, while Hanafis consider it a mere courtesy to the husband.)"
http://en.wikipedia.org/wiki/Umdat_al-Salik_wa_Uddat_al-Nasik
http://en.wikipedia.org/wiki/Al-Azhar