SEC to rule on audit next week

In a statement, Arthur Levitt, chairman of the SEC, said the time had come for the Commission to act, saying: ‘In recent weeks much progress has been made. The rhetoric has died down and honest ideas have been exchanged.’

He continued: ‘I know some would prefer that the Commission postpone consideration of this issue for six months. While I respect the views of those in Congress and in the profession who believe the SEC should defer its rulemaking, I believe delay will not serve the interests of America’s investors.’

SEC statement in full

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