Word: reformer
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...uproar against corporate crime was reaching its peak, it was convenient for Bush to join the battle cry and come down hard on the corporate villains. Likewise, it was convenient for Congress to pass the Sarbanes-Oxley Act of 2002—also called the “Accounting Reform Act”—reaching out to the victimized common man and calling for the eradication of big business deceit...
...Accounting Reform Act included sweeping measures dealing with financial reporting, conflicts of interest, corporate ethics and the oversight of the accounting profession. It called for increasing the Securities and Exchange Commission (SEC) budget by 77 percent and creating a U.S. accountancy regulatory board. The increased budget was going to be used to hire up to 300 new enforcement and inspection specialists and to begin upgrading information technology, all in an attempt to better protect investors from rampant financial fraud...
When President Bush signed the Accounting Reform Act this summer, he promised to use the new enforcement tools “to the fullest.” He told corporate America, “this law says to every dishonest corporate leader, ‘you’ll be exposed and punished.’” He forgot to mention, however, that once American citizens stopped paying attention, so would...
...financing will not allow the agency to take on key initiatives. It seems unreasonable that Bush is more than willing to invest tens of billions of dollars to fund a questionable war with Iraq when he cannot seem to scrounge up another $150 million to implement effective corporate reform policy...
...budget stand-off between Congress and the president threatens efforts to crack down on corporate wrongdoing. Congress has not yet funded the SEC for fiscal year 2003, which began Oct. 1, nor has it approved any future funding for the new Public Company Accounting Oversight Board, which the Accounting Reform Act created to monitor the accounting industry. In fact, the House, where appropriations bills originate, has yet to even introduce a bill to fund the SEC for 2003, let alone vote...