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The AAO Weblog covers accounting issues and current events as they relate the practice of investment analysis. All posts prior to September, 2007 are in the public domain, but after September 4, only subscribers to The Analyst's Accounting Observer will see all posts going forward. Only selected, occasional posts will be released to the public domain from September 4 forward.

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Cox Watch
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Posted by: Jack Ciesielski 6/6/2005 6:52 AM
Representative Christopher Cox has not even been confirmed as chairman of the SEC by the Senate yet and already the U.S. Chamber of Commerce is expecting him to act on stock option expensing. Let him get his bags unpacked first, for crying out loud!

The Financial Times [subscription required] reports that David Hirschmann, senior vice president at the US Chamber of Commerce, said: “The first order of business is to look carefully at the current approach on investigations and enforcement, to ensure you are balancing the need for aggressive enforcement against fraud with the need to provide a fair and predictable process for honest companies. That is clearly our top priority.”

He went on to say that the "chamber wanted Mr Cox to consider a delay in implementing a new accounting rule that requires stock options to be treated as expenses."

This will probably be the most-watched chairman transition in the history of the SEC - at least, in recent history.
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