Posted on 01/13/2003 8:41:22 AM PST by berserker
Has the credibility of the new Public Company Accounting Oversight Board been destroyed before it's even up and running?
That's what some critics contend following an announcement last week that members set their own pay at $452,000 per year and the new chairman's salary at a whopping $556,000.
"This doesn't speak well to the ethics and integrity of its members when the first thing they want to do is pad their own pockets," said compensation expert Graef Crystal.
Although the board says the pay is necessary to attract the best talent, others note that $452,000 is more money than any other government employee receives, including the president of the United States. ...
See the full article.
(Excerpt) Read more at thestreet.com ...
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