New York (May 19, 2003) -- The creation of the Securities and Exchange Commission and the CPA’s auditing franchise after the 1929 stock market crash forged a good safety net for that era but it can’t bear the weight of 21st Century business practices, said Charles Niemeier, acting chairman of the new accounting oversight board.
Taking a stroll through the history of accounting during the New York CPA Society’s annual dinner, Niemeier noted that every decade or so since the 1920s, businesses have undergone a series of mini accounting-related crises, each one in retrospect indicating that serious problems did exist, he said.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access