February 19, 2002
President George W. Bush
1600 Pennsylvania Avenue
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
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
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,
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