From: Faye Casper [FCasper@bkd.com]
Sent: Tuesday, July 16, 2002 10:14 AM
To: rule-comments@sec.gov; kwhawkins@ualr.edu
Subject: Rule Comments (s7-24-02)


I do not believe the SEC needs to create a new independent PAB to oversee the accounting
profession. A new board will not help the situation. It makes no sense to create a board to
oversee the accounting profession when you are proposing that the board members not have extensive
accounting backgrounds. If a board member does not have an accounting background, he/she will be
of little use to police the accounting profession.

I understand the SEC's concern regarding independence, however, the AICPA already has rules
concerning the independence of auditors and enacting new rules or a new board is not going to make
the problem of fraud go away. As long as there are dishonest managers running publically traded
companies, the SEC will be dealing with the issue of fraud. I am not saying the auditors are not
at fault also. Auditors must also be honest and ethical and not turn and look the other way just
because they are afraid of losing a big client. The root of the problem is unethical, dishonest
people - both in the corporate world and in the public accounting profession. The SEC must realize
it cannot legislate morality and honesty.

This is a very complicated issue and I could go on for pages as to where the root of the problem
lies, however, my own personal agenda is not the issue. I would ask you to stop and think
logically about having a group of people policing a profession they know little about.

Faye Casper


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