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Strategies & Market Trends : Employee Stock Options - NQSOs & ISOs -- Ignore unavailable to you. Want to Upgrade?

To: jt101 who wrote (299)	5/11/2003 7:14:24 AM
From: rkral	Respond to of 786

A Public Company Accounting Oversight Board ("PCAOB") follow-on ----- The AICPA indicates support ... "Washington, DC (October 25, 2002)—The American Institute of Certified Public Accountants (AICPA) has been and will remain committed to the performance of the highest quality audits and the public’s confidence in them. We stand ready to work with the newly appointed members of the Public Company Accounting Oversight Board to restore confidence in the capital markets and our place in the process. We recognize the significant responsibilities of the Board and are committed to working with it and with the SEC for the successful implementation of both the letter and the spirit of the Sarbanes-Oxley Act. The appointment of these Board members is an important first step in that process." and the first PCAOB members are ... "Chair, William H. Webster, former judge and head of the FBI and CIA; Kayla J. Gillan, former general counsel of the California Public Employee's Retirement system; Daniel L. Goelzer, CPA and attorney, former SEC general counsel; Charles D. Niemeier, CPA and attorney, current chief accountant of the SEC's enforcement division; and Willis D. Gradison, Jr., former Ohio Congressman (R)." tscpa.org !!!!! The chain of authority, AFAIK: Sarbanes-Oxley Act => SEC => PCAOB. If Congress again threatened to "shut down" the FASB -- because of the stock option expensing issue -- and succeeded in doing so, Congress might direct the SEC to take over the role of setting accounting standards via the PCAOB. (Not being a proponent of big government, I hope not.) The PCAOB has a web site at pcaobus.org. There is also a commercial site at pcaob.com, aka, sarbanes-oxley.com. (There is not likely an official connection between the org and com sites, IMHO.) I doubt the PCAOB will become involved in employee stock option issues, but it might be worthwhile keeping an eye on their activities for a while .. and the commercial sites could be a source for relevant news. Ron