• McKenna in Accountancy Magazine

    By • Jul 7th, 2009 • Category: Fair Value, PCAOB, Regulators, Laws, Standards, Regulations, SEC, Writing for Others

     I was asked by Accountancy Magazine in the UK to write a summary of the Compliance Week Annual Conference for their readers.  This article, entitled “Regulatory Reformation,” can be found here.  Please let me know what you think.

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    2 Responses »

    1. Francine,

      I couldn’t agree more with your paragraph below. Perceived opportunity costs are constantly keeping people out of service positions across the board, IMHO. It would be interesting to see what kind of packages could be put together to entice professionals, experienced or otherwise, to serve in public regulatory roles. Are you familiar with what the carrots at the ends of the sticks look like in the UK or France?

      “The SEC, for example, doesn’t generally hire entry-level
      professionals. US regulators could take advantage of
      the Obama administration’s emphasis on public service
      rather than perpetuating the idea that government
      service comes with a huge opportunity cost. We have
      accepted lobbying, conflicts and a ‘revolving door’ back
      into private firms as inevitable after a few years of public
      ‘martyrdom’. We need top graduates of elite schools, as
      well as good graduates of good schools, and mid-career
      markets experts in particular, to dedicate themselves to
      public service such as one sees in the UK and France. It’s
      both idealistically and practically desirable.”

      Great article BTW!

    2. Enjoyed the article and forwarded it to colleagues.
      Thanks.