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Non-accountant Public Accountability Board proposed - SEC News - Brief Article
California CPA, August, 2002
In a move that SEC Pacific Regional Director Randall Lee called "a radical change in regulation," the SEC has formalized its proposal to establish a Public Accountability Board. The system of private sector regulation would not be under the control of the accounting profession.
The board is intended to assist the SEC's oversight and enforcement efforts by helping to detect and remedy ethical lapses or deficiencies in competence.
The proposed rule will be open to comment for 60 days after publication in the Federal Register. For more details go to www.sec.gov/news/press/2002-91.htm.
COPYRIGHT 2002 California Society of Certified Public Accountants
COPYRIGHT 2002 Gale Group
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