The former chief accountant of the Securities and Exchange Commission said that the accounting profession must stand strong in advocating for more transparent financial disclosure and serve as a model for the rest of the world.Speaking at the New York State Society of CPAs' 109th Annual Election Meeting and Dinner, Donald Nicolaisen shared stories of former commission Chairman William Donaldson cajoling him to join the agency, anecdotes from his weekly commute from New Jersey down to the nation's capital, and the importance of his work with the Public Company Accounting Oversight Board to implement the Sarbanes-Oxley Act.

Talking about his children and grandchildren, Nicolaisen said that the importance of improving financial reporting standards comes down to caring about the well-being of future generations.

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