June 28, 2012
I worked in the Accounting field for years before opening my own business. I have spent years trying to explain to business novices why the money the US government spends to insure a transparent market for investors has been essential to America becoming a safe place for people with extra money to invest.
That includes accounting standards that require all publicly held companies to have independent auditors to insure that they are all reporting by the same rules.
That is but one safeguard that this new law circumvents.
This law is totally irresponsible and just invites fraud. It should be repealed immediatly before it has time to undermine our market.