Bill Provides a New Framework for Accounting & Corporate Governance

by John Markese

On Tuesday, July 30, President Bush signed the Public Company Accounting Reform and Investor Protection Act of 2002.

At the invitation of the White House, I attended the signing ceremony, along with AAII members who were representing the Washington DC Metro chapter.

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The bill is a response to the recent corporate scandals that have shaken investor confidence in corporate financial reports and raised questions about the quality and ethics of corporate leaders who are managing companies on behalf of the true owners—the shareholders.

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