SEC Chairman Donaldson's Comments
on Compliance
William Donaldson, SEC Chairman, remarks
at the National Press Club on July 30, 2003
"Compliance with the Act is intended to result in improved corporate
accountability, but it should also become a catalyst for improved
transparency and quality of financial reporting. Underscoring the importance
of this objective are comments from SEC Chairman William Donaldson:
...Simply complying with the rules is not enough. They should, as
I have said before, make this approach part of their companies�
DNA. For companies that take this approach, most of the major
concerns about compliance disappear. Moreover, if companies
view the new laws as opportunities�opportunities to improve
internal controls, improve the performance of the board, and
improve their public reporting�they will ultimately be better
run, more transparent, and therefore more attractive to investors.
"