In one of his last public speaking appearances before stepping down as chairman of the Public Company Accounting Oversight Board November 30, William McDonough told a roomful of financial and accounting executives that, while much progress had been made in restoring public confidence, maintenance is an ongoing mission.

"This is not a project that can ever be considered finished," McDonough told several hundred CFOs, controllers and financial executives attending Financial Executives International's 24th Annual Current Financial Reporting Issues Conference -- the third time he has spoken to the group. He said that restoring confidence requires "unfailing focus and vigilance, and not just from accountants."

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