the data collected for the program evaluation process can identify “ best practices ” which can be replicated on a broad scale to increase the reach and effectiveness of successful programs. but unlike readily quantifiable outcome measures such as business profits, a bright - line test of success is not always available for financial education programs. there is often no single outcome that conveys success, and the determinants of achievement may depend on factors that vary from one individual to the next. further, these programs may not realize a return on their investment for months, or even years. given the importance of evaluating a program's success, leaders of various economic and financial education programs have been exploring ways to measure the effectiveness of their activities. staff of the federal reserve and the department of defense are currently collaborating to develop extensive and ongoing survey instruments to measure the value of financial education courses offered to army personnel. organizations such as jump $ tart, the national endowment for financial education, and the national council on economic education have employed various testing and survey strategies to quantify the impact of and measure the need for their programs. in considering how to develop measurement criteria for financial education programs, it is logical to begin with primary objectives. the desired outcomes for financial education are · getting the message out - that is, increasing consumers'awareness of the importance of the issue to their well - being. · altering consumer behavior to improve short - and long - term prospects. these goals have parallels to other public awareness and educational campaigns, and the parallels can assist in program design and evaluation. i will illustrate by offering some perspectives. with regard to the first outcome - getting the message out - the ad council has sponsored studies to determine the impact of public service announcements on its targeted audiences. the findings suggest that certain public service announcements are effective in increasing awareness, reinforcing positive beliefs, intensifying concern, and moving people to action. one study, conducted by the advertising research foundation, focused on the impact of public service announcements for colon cancer awareness that were aired in four major cities over the course of a year. the research found that as a direct result of the public service announcement, awareness of the threat of colon cancer increased by more than 3. 5 times after a year, and the number of people discussing colon cancer with their doctor increased by 43 percent. the research also found that the message had a particularly strong impact on men, with awareness among males increasing nearly six times and the number of males taking action increasing by 114 percent.

successful implementation of a principles - based approach is, however, dependent on cultural changes occurring in the accounting and auditing profession and effective oversight. without these two factors, a principles - based system could easily be used as the basis for manipulating financial information for reasons other than improving its quality and transparency. principles alone, however, do not ensure good financial reporting, which leads me to the integrity of the audit process. integrity of the external audit process at the heart of questions about the quality of accounting, auditing, and disclosure practices of major u. s. companies are weaknesses in the external audit process. many auditors have been too focused on cross - selling new services to corporations and have lost sight of the fact that the credibility of their independent opinion regarding the fairness of a financial statement is the core value that they bring to the marketplace. congress and others have determined that the industry cannot regulate itself, and the implementation of regulatory reform now rests with the sec and the new public company accounting oversight board. it is in your professional interest to support this new entity as it endeavors to strengthen the auditing process. let me be clear about my message. the root causes of the breakdown in corporate accounting practices that have been widely disclosed in the past few months are ineffective corporate governance, financial reporting, and risk - management practices. the lessons from recent events are not new. rather, recent events should serve as a wake - up call to corporate boards, management, corporate accountants, and auditors to follow through on their fundamental and traditional professional and ethical standards of conduct and control processes. although the issues are not new, the scope and frequency of breakdowns are of concern. as new reports and congressional investigations on various aspects of the breakdowns occur, corporations and auditors should address the issues raised so that they do not compromise the reputation of their organizations. at enron and other companies, weak corporate governance practices apparently permitted managers to engage in sham transactions and misleading financial reporting. some outside auditors erred in trying too hard to please an important client, to the point of engaging in criminal conduct. they seem to have lost sight of their professional role of assuring users of financial reports that the statements fairly represent the condition of the corporation and of the fact that reports should communicate, not conceal, the level of risk. some observers have asserted that new accounting standards - - or, as i have discussed, a principles - based method of setting standards - - are needed. in some ways that may be true. but judging