[L,TOWM]

The '29 Crash brought us the requirement that all publicly traded companies in the US have audited financials to submit to the SEC. This article looks to be a reaction from the SEC to Audit Failure, which has been a long existing problem in the CPA profession.

So, what will it take to get the public to get behind a move to turn the audit function into a government program? Comments...?

[L,TOWM]

More enron fallout...

[Voltage]

We need a new law that everyone must be honest. That will do it I am fairly sure.

[Gladwin]

You would have to have whistleblowers to make the regulatory board work. There should also be some incentive for the whistleblowers to come forward. Otherwise, coming forward would be a career ending act for an accountant, especially an Andersen accountant.

[steve50]

The quality of federal oversight the last 10 years is a great endorsement for them to take over.