It has been five years since corporate fraud led to the collapse of Enron. Combined with a handful of other accounting and financial scandals, the landscape of disclosure has changed dramatically.
Within a year of the Enron fiasco, the U.S. Congress passed legislation -- known as Sarbanes-Oxley -- that requires the nearly 150 public companies in San Diego and thousands across the country to disclose more information about corporate finances.
This past week the Securities and Exchange Commission also adopted new requirements for disclosing executive compensation.
"With more than 20,000 comments, and counting, it is official that no issue in the 72 years of the commission's history has generated such interest," said Chairman Christopher Cox.
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