Academic journal article ABA Banking Journal

New Leaders of Accounting Emerge. (Briefing)

Academic journal article ABA Banking Journal

New Leaders of Accounting Emerge. (Briefing)

Article excerpt

After Enron collapsed, Congress reorganized American accounting. Its new leadership was welt represented in May at an all-day conference put on by the New York Society of Security Analysts. One striking sign of change was the absence of a practicing CPA on the program.

Another portent of change was Bill Gradison, a member of the fledgling Public Company Accounting Oversight Board which just a month before, he said, had only ten employees and no coffee maker. His prior background was investment counsel, after serving as Cincinnati's mayor and, earlier, a U.S. congressman. In addition to inviting comments from analysts, he said that the board's budget will be about equal to that of the Financial Accounting Standards Board. This formulation may be the consequence of line-by-line projection or a symbolic declaration of co-importance. Gradison also said that whereas Congress wants accuracy in accounting, his sense of the board's mission is to restore investor confidence.

Impressive was Alan Beller, appointed in early 2002 to head the Division of Corporation Finance, the Securities and Exchange Commission entity that relates to accounting bodies and corporate registrants. He spoke refreshingly of change, for example, a greater welcome given to intangible and off-balance-sheet disclosures, as well as swifter and more flexible access to EDGAR, the SEC's clunky online file of corporate financials. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.