Every day, investors rely on the accuracy of financial statements when making investment decisions.
Accountants play a vital role in the financial reporting process.
At the same time, the Commission has provided a clear and fair standard for those accountants who practice before the Commission. Attached is a fact sheet outlining the basic elements of the rule that the Commission adopted today. The Commission received over 150 comment letters on the proposed amendment. This is an open meeting of the Securities and Exchange Commission. Today, we decide whether to adopt a final rule defining the circumstances under which the Commission will discipline accountants.