The CPA Journal, November 1st, 2002
Over the last several years, the accounting profession has been wrestling with the degree to which it should be regulated. Recently, in an extreme interpretation of the apparent motto "The only good regulation is no regulation," the profession confronted the AICPA's proposal for a global business credential, at one point called Cognitor, which would have created a new profession essentially unregulated by any governmental entity.
Many of the people and groups that opposed the recently passed Sarbanes-- Oxley Act, a federal statute that mandates increased regulation aimed at creating a stronge...
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