1、1 For example, see: The Huron Consulting Group, “A Study of Restatement Matters: For the FiveYears Ended December 31, 2001,” June 11, 2002, p. 8, and Jim McTague, “Fixable Flaws,”Barrons, Jan. 7, 2002, p. 16.Congressional Research Service The Library of CongressCRS Report for CongressReceived throug
2、h the CRS WebOrder Code RS21257July 8, 2002Auditing and Accounting Regulation:Key SEC Powers Gary Shorter Specialist in Business and Government RelationsGovernment and Finance DivisionSummaryKey auditing and accounting reform legislation, S. 2673 (Sarbanes), and H.R. 3763(Oxley), and proposals for a
3、uditor oversight by the Securities and ExchangeCommission (SEC) have been launched to help restore public confidence in a systemof corporate financial accounting tainted by accounting fiascos at companies like Enron,Tyco, and Worldcom. This report provides background on significant current SECregula
4、tory powers in the area of accounting and auditing. It will be updated if there arechanges in SEC authority. IntroductionSince late 2001, the United States has experienced a level of heightened concernover accounting shortfalls and failures at publicly traded companies: Accounting fiascosat companie
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