The House Committee on Energy and Commerce Democrats

COMMERCE COMMITTEE DEMOCRATS
Congressman John D. Dingell, Ranking Member

SEC AUDITOR INDEPENDENCE RULES

November 15, 2000

Rep. John D. Dingell (D-Mich.), Ranking Member of the U.S. House Committee on Commerce, issued the following statement on Securities and Exchange Commission (SEC) adoption of revised rules governing the independence of the accounting profession and its vital audit functions:

"Today’s action is a great victory for our capital markets, the investing public, the accounting profession and the SEC. We will now all have the benefit of clear, consistent, and enforceable nationwide standards to protect the quality of audits and the health of U.S. financial markets. I commend Arthur Levitt for his unwavering leadership throughout this unbelievably tough fight. I held oversight hearings on this issue almost two decades ago and will continue to monitor it to make sure that the rules adopted today are implemented and enforced in the public interest."

Prepared by the Committee on Energy and Commerce
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