TY - JOUR
T1 - Comments on the proposed SEC's 2010-2015 draft strategic plan
AU - Bloomfield, Robert
AU - Christensen, Theodore E.
AU - Glover, Jonathan
AU - Haka, Sue
AU - Jamal, Karim
AU - Ohlson, James A.
AU - Penman, Stephen
AU - Petroni, Kathy
AU - Tsujiyama, Eiko
AU - Watts, Ross L.
N1 - Publication details (e.g. title, author(s), publication statuses and dates) are captured on an “AS IS” and “AS AVAILABLE” basis at the time of record harvesting from the data source. Suggestions for further amendments or supplementary information can be sent to [email protected].
PY - 2010/3
Y1 - 2010/3
N2 - The SEC has proposed a strategic plan that sets out its mission, vision, and values, four strategic goals, a set of desired outcomes associated with each strategic goal, and a list of performance measures for assessing the SEC's effectiveness in attaining its goals. We affirm the need for vigorous enforcement of securities law and offer some research-based insights and performance indicators. We also acknowledge the importance of disclosure, but propose that the SEC needs to develop a disclosure framework and develop better operational indicators of quality of disclosure. It is important to appreciate the benefits of disclosure as well as its limits and potential dysfunctional consequences. We also discuss the need for an independent accounting standard setter and recommend that the SEC take a greater role in enhancing the independence of the FASB.
AB - The SEC has proposed a strategic plan that sets out its mission, vision, and values, four strategic goals, a set of desired outcomes associated with each strategic goal, and a list of performance measures for assessing the SEC's effectiveness in attaining its goals. We affirm the need for vigorous enforcement of securities law and offer some research-based insights and performance indicators. We also acknowledge the importance of disclosure, but propose that the SEC needs to develop a disclosure framework and develop better operational indicators of quality of disclosure. It is important to appreciate the benefits of disclosure as well as its limits and potential dysfunctional consequences. We also discuss the need for an independent accounting standard setter and recommend that the SEC take a greater role in enhancing the independence of the FASB.
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U2 - 10.2308/acch.2010.24.1.109
DO - 10.2308/acch.2010.24.1.109
M3 - Comment/debate
SN - 0888-7993
VL - 24
SP - 109
EP - 115
JO - Accounting Horizons
JF - Accounting Horizons
IS - 1
ER -
