When accounting goes unaccounted for
“This…is wrong. To be clear, while I strongly believe in our commitment to high-quality accounting standards, I believe just as strongly that this commitment is only the beginning of the discussion, not the end.”
~ SEC Chair Mary Schaprio, on the Commission’s approach to IFRS.
“Before the fraud broke, people would ask me what I did before I retired and I’d say I was founder and former CFO of HealthSouth. But today when people ask me what I did before I retired I kind of look away and say I was an accountant and hope they don’t ask me any other questions.”
~ Aaron Beam, former CFO of HealthSouth and current lawn-care business owner, at the University of Texas-Dallas Fraud Summit, earlier this month.
“The SEC’s efforts are, and will always be, a work in progress. We will continually refocus our energies as circumstances warrant, as new ideas are offered and considered, as we consider your opinions and suggestions. But the outlines are emerging, the colors are being filled in, and I am hopeful that a portrait of a financial marketplace more stable and efficient than the one we saw in 2008 is beginning to emerge.”
SEC Chair Mary Schapiro at CEO Quarterly Meeting of the Business Roundtable on the SEC’s ongoing efforts to color inside the lines. Apparently the Commission was free-handing all this time.
From the Los Angeles Times today: During the years in which Trump battled disclosure, much […]