Sec
Securities and Exchange Commission Integration Paper
As a result of the numerous corporate accounting scandals, The Securities Exchange Commissions had created an order that involves billion dollar companies. The new order requires the CEOs and financial chiefs at companies with more than $1.2 billion in revenue last year to swear under oath in a written statement that the statistics in the recent financial reports are accurate.(The Wall Street Journal)
The SEC has high hopes for this order, and expects to accomplish a few different things. The purpose of this order is to provide greater assurance to the Commission and to the investors that persons have not violated, or are not currently violating the provisions of the federal securities laws governing corporate issuers? financial reporting and accounting practices. Another principle that the SEC order aims to incorporate is to aid the Commission in assessing whether it is necessary or appropriate in the public interest or for the protection of investors for the Commission to adopt or amend rules and regulations governing corporate issuers? reporting and accounting practices and or for the Commission to recommend legislation to congress concerning these matters.
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