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 ****** BKD, LLP Internet Email Confidentiality Footer ****** Privileged/Confidential Information may be contained in this message. If you are not the addressee indicated in this message (or responsible for delivery of the message to such person), you may not copy or deliver this message to anyone. In such case, you should destroy this message, and notify us immediately. If you or your employer does not consent to Internet email messages of this kind, please advise us immediately. Opinions, conclusions and other information expressed in this message are not given or endorsed by my firm or employer unless otherwise indicated by an authorized representative independent of this message.