Volume 15, No. 15

 

What Keeps The SEC Busy - 2007 The American Institute of Certified Public Accountants held its annual "Current SEC & PCAOB Developments Conference" in Washington, DC last week, featuring speakers from the SEC, the FASB and the PCAOB. Each year, this conference swarms with accountants from all parts of America who want to hear first-hand from the SEC's staff about accounting issues that rouse them. This year's swarm was 2,900 strong. Auditors need to know these issues: when dealing with audit clients in the next few months, forewarned is forearmed. The same goes for dealing with the SEC, too. Why waste valuable audit field time on issues that the SEC already publicly addresses at this giant venue? The conference can provide business intelligence for the conscientious auditor: it's full of "knowledge nuggets" that can put an auditor on s often ensuing market confusion. That reason alone should interest investors in what keeps the SEC busy.

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