Attack on Accounting Profession, i.e. Enron

                                                                                                      February 19, 2002

President George W. Bush
1600 Pennsylvania Avenue
Washington D.C.

Re: Attack on Accounting Profession, i.e. Enron
       Reply to January 2002 State of the Union Address

Dear Mr. President;

    Enclosed is the 100 page disclosure check list we recently used in preparing financial statements for a hospital. Their purpose is to assist us in making a determination of the adequacy and compliance with financial statement disclosures. Not long ago the check list was 45 pages.

    Please kindly inform me what disclosures are missing so that I may incorporate such into our statements next year.

    Could it be Enron’s auditors did not follow generally accepted accounting principals and that our industries regulations are bloated enough?

    Please also consider that there are only five CPA firms (soon to be four) that audit 98% of all public companies in the United States. Though there are 340,000 members of the AICPA, the same five firms control our industry. Without your involvement, there will soon be only four firms auditing SEC companies, not the hundreds needed to diversify and break up this unprecedented centralized control of financial auditing and reporting of our public companies.

                            Very truly yours,

                            Dana Scott Beane, CPA
                            President

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