SEC staff presentations at AICPA annual SEC conference
17 Dec 2002
Among the presentations by senior SEC staff people at the AICPA's annual Current SEC Issues conference that are relevant to the international accounting community are these: (PDF 90k), Director of the SEC Division of Enforcement.
Mr. Cutler noted that the SEC has the authority to bring enforcement actions, both in federal court and administratively, against accounting firms based on the conduct of individual partners, on matters other than independence violations. He suggested that while the Commission has been reluctant to do so in the past, it is likely to be more aggressive in this area in the future.
(PDF 82k), Acting Chief Accountant. Mr. Day addressed the Sarbanes-Oxley Act; the new Public Company Accounting Oversight Board; standard setting; the SEC's willingness and interest in working with registrants to resolve issues on a timely basis; and what accountants can do to change the future and better serve the interests of investors. On the subject of standard-setting, Mr. Day said: "While I am on the issue of international accounting, I am going to say just one thing: If you are a single product domestic manufacturer whose customers only reside in the U.S. - and you do not believe that international accounting matters to you - you should come to the session tomorrow on international accounting." The conference to which he refers is the SEC Roundtable mentioned in our news story of 7 December below (click for SEC Press Release).