Accounting rules lower businesses’ competitiveness

By Freedom Newspapers The Securities and Exchange Commission last week finally eased Sarbanes-Oxley auditing rules to make them less oppressive for smaller public companies, which had called for relief after spending millions of dollars to comply with the 2002 “Enron law.” But such baby steps fall far short. This duplicative, expensive and anti-competitive act, which […]

Accountability good, but Enron trial raises concerns

Freedom Newspapers It’s not particularly surprising that Enron Corp.’s former top two executives, Kenneth Lay and Jeffrey Stilling, were found guilty Thursday on most criminal counts that prosecutors brought against them relating to the demise of what was once the nation’s seventh-largest company. Both men face the prospect of spending the rest of their lives […]

Post-Enron law could impose unnecessary costs

Freedom Newspapers An advisory panel to the Securities and Exchange Commission (SEC) has formally recommended that thousands of smaller publicly traded companies be exempted from the strict accounting and reporting requirements imposed by the 2002 Sarbanes-Oxley law, passed in the wake of the collapse of Enron. “The benefits that are derived by investors are really […]

Enron court case will not prevent further problems

Freedom Editorial It is easy to view the recent indictment and arrest of former Enron Chairman and CEO Kenneth Lay with a degree of satisfaction. Executives of the now-bankrupt Enron have been accused of hiding billions of dollars in debt and embellishing company financial statements with complicated off-the-books transactions. Its collapse hurt thousands of employees […]