Financial Fraud Detection: Hearing Before the Subcommittee on Telecommunications and Finance of the Committee on Energy and Commerce, House of Representatives, One Hundred Third Congress, First Session, on H.R. 574, a Bill to Amend the Securities Exchange Act of 1934 to Impose Additional Fraud Detection and Disclosure Obligations on Auditors of Public Companies, February 18, 1993, Volume 4 |
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1991 financial statements accountant's accounting firms accounting principles accounting profession accounting treatment action addition allegations American Express area code 916 audit report auditing standards auditors bank bill board of directors BREEDEN Chairman client College Bound Commission's Company's CONG CONGRES CONGRESS THE LIBRARY Crazy Eddie December 31 disagreements Eddie Antar Employer Identification enforcement Ernst & Young EXCHANGE COMMISSION Washington FASB financial fraud financial reporting Form 8-K former accountants former auditors GAAP GAAS Greenspan GRESS HEALTHCARE SERVICES GROUP independent auditor independent public accountant inventory investors issue issuer Item legislation LIBRA LIBRARY OF CONGRESS litigation MARKEY matter million MiniScribe Moneygram procedures professional promissory notes public companies pursuant RARY Registrant Registrant's resignation responsibility RESS Richard Breeden role Rule 2(e Sahlen SEC AAER SEC Lit Section 10A Securities and Exchange Securities Exchange Act securities laws signing bonus SUPERMAIL INTERNATIONAL transactions WYDEN
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Page 63 - SIGNATURES Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized in the City of...
Page 58 - Commission pursuant to section 13 or 15 (d) of the Securities Exchange Act of 1934...
Page 7 - By certifying the public reports that collectively depict a corporation's financial status, the independent auditor assumes a public responsibility transcending any employment relationship with the client. The independent public accountant performing this special function owes ultimate allegiance to the corporation's creditors and stockholders, as well as to the investing public. This 'public watchdog...
Page 70 - The questions that must be asked are: , —Where were these professionals, a number of whom are now asserting their rights under the Fifth Amendment when these clearly improper transactions were being consummated? —Why didn't any of them speak up or disassociate themselves from the transaction?
Page 5 - Are there any other members seeking recognition for the purpose of making an opening statement?
Page 62 - Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned; thereunto duly authorized, in the City of Redmond, State of Washington, on September 5, 2002.
Page 33 - The small business issuer shall provide the former accountant with a copy of the disclosures it is making in response to this Item no later than the day that the disclosures are filed with the Commission. The small business issuer shall request the former accountant to furnish a letter addressed to the Commission stating whether it agrees with the statements made by the issuer and, if not, stating the respects in which it does not agree. The small business Issuer shall file the letter as an exhibit...
Page 17 - Rule 2(e) actions also frequently involve imposition of additional conditions upon the practice of sanctioned individuals or firms. Such conditions can include requirements to join the SEC Practice Section, thus subjecting themselves to peer review, installation of certain auditing policies and procedures or quality control procedures, or reviews of auditing and accounting judgments on a particular client by a partner not otherwise involved with the engagement.
Page 42 - ... concludes that — (A) the Illegal act has a material effect on the financial statements of the issuer; (B) the senior management has not taken, and the board of directors has not caused senior management to take, timely and appropriate remedial actions...
Page 5 - I would like to ask that my statement be put in the record, and I will speak extemporaneously.