Washington (March 28, 2012) – Barry C. Melancon, president and CEO of the American Institute of CPAs, told members of the House Subcommittee on Capital Markets and Government Sponsored Enterprises that the AICPA supports a strong, balanced and independent regulatory structure that protects investors but does not restrict the flow of capital.
“AICPA supports a strong and balanced regulatory structure that protects the public but does not detract from, or negatively impact, quality reporting and auditing and does not restrict the effective and efficient flow of capital.
“The AICPA was established 125 years ago by the accounting profession to serve the public interest by fostering independence, objectivity, competence, and the highest possible level of professionalism and ethical behavior.
“CPAs in all areas of the accounting profession, along with the AICPA, join you as we seek to advance a common mission of promoting the highest quality accounting and auditing services that are valuable to the public interest and to the global capital markets.”
The AICPA testimony can be found online.