Another excuse to blame the rules and not the behaviour.
Onésimo Alvarez-Moro
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''Conformity to hundreds of technical rules became not a shield to protect investors, but a sword to be wielded against them,'' maintains SEC chairman Christopher Cox, who also discusses Big Four competition and ''bar coding'' for business reporting.
Keep it simple.
This was a major theme of the message delivered by Securities and Exchange Commission Chairman Christopher Cox in a speech Monday during an AICPA conference in Washington, D.C.
Cox stressed the need for greater clarity and transparency, asserting that the recent accounting scandals were made possible in part by the sheer complexity of the rules. "Criminal conduct could be concealed in a thicket of detail," he explained. "Conformity to hundreds of technical rules became not a shield to protect investors, but a sword to be wielded against them."
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