Teresa Panczyk
129 N Melborn
Dearborn, MI 48128

Jonathan G. Katz, Secretary August 16, 2000
Securities and Exchange Commission
450 Fifth Street, NW
Washington. DC 20549-0609

Re: Reference file #: S7-13-00

Dear Sir,

The following points regarding changing the foundation of the Accounting profession without empirical evidence is absurd. I strongly believe the SEC is overstepping its bounds and will severely impact not only the accounting profession, the business industry, but the stock market as well, and ultimately all stockholders. When you attack the foundation on which the stock market is built you are trending on 1929 waters, if you know what I mean. Market conditions have been good to all of us for the last 20 years, lets not tempt a depression.

Consider the following points and let your conscious be your guide:

Thank you,
Sincerely yours,

Teresa Panczyk, CPA