Comments on: A Call For Accounting Integrity http://alephblog.com/2009/07/30/a-call-for-accounting-integrity/ Helping Institutions and Ordinary People Invest Better by Focusing on Risk Control Fri, 19 Mar 2010 11:55:38 -0400 http://wordpress.org/?v=2.8.4 hourly 1 By: ephpostfacto http://alephblog.com/2009/07/30/a-call-for-accounting-integrity/comment-page-1/#comment-22802 ephpostfacto Fri, 31 Jul 2009 19:38:58 +0000 http://alephblog.com/?p=1924#comment-22802 I would agree that having a financial analyst as Chief Accountant. You're more careful with the recipe when you're the one eating it. I would agree that having a financial analyst as Chief Accountant. You’re more careful with the recipe when you’re the one eating it.

]]> By: David Merkel http://alephblog.com/2009/07/30/a-call-for-accounting-integrity/comment-page-1/#comment-22794 David Merkel Thu, 30 Jul 2009 17:45:47 +0000 http://alephblog.com/?p=1924#comment-22794 You are correct -- CFA Charterholder. Taking the CFA exams teaches one to be a user of financial statements, versus the CPA, which teaches one to make them. Jack also has been active in the Baltimore CFA society, and has encouraged his staff to be active in it as well. It would be a very good thing for the SEC to have a financial analyst as Chief Accountant. The users of financial statements need to be represented for reasons of investor protection. The accounting profession has been negligent there, favoring statement-makers over statement-users. You are correct — CFA Charterholder. Taking the CFA exams teaches one to be a user of financial statements, versus the CPA, which teaches one to make them. Jack also has been active in the Baltimore CFA society, and has encouraged his staff to be active in it as well.

It would be a very good thing for the SEC to have a financial analyst as Chief Accountant. The users of financial statements need to be represented for reasons of investor protection. The accounting profession has been negligent there, favoring statement-makers over statement-users.

]]> By: ephpostfacto http://alephblog.com/2009/07/30/a-call-for-accounting-integrity/comment-page-1/#comment-22793 ephpostfacto Thu, 30 Jul 2009 17:23:04 +0000 http://alephblog.com/?p=1924#comment-22793 As per the CFA Code of Ethics, Jack cannot be a CFA, he is a CFA Charterholder. I also don't think you're allowed to imply that being a CFA charterholder makes one more understanding of the concerns of investors. As I recall, being a CFA Charterholder does not entitle you to make many claims other than that you have completed the requisites to earn the charter... As per the CFA Code of Ethics,

Jack cannot be a CFA, he is a CFA Charterholder.
I also don’t think you’re allowed to imply that being a CFA charterholder makes one more understanding of the concerns of investors. As I recall, being a CFA Charterholder does not entitle you to make many claims other than that you have completed the requisites to earn the charter…

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