August 18, 2004
The proposal is great. So far, SEC comment letters have been monopolized by the Big Four accounting firms. Now small accounting firms and accountants will have a chance to study the staff views.
I have one more suggestion to make. All SEC correspondence with issuers, accounting firms, etc which are otherwise obtainable on a Freedom of Information Act request should be made available on the SEC website. To cover administrative costs of such an arrangement, a small fee can be levied on those who want to access such documents. The payment can also be made online so that there is no delay in accessing the document.