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Ex-SEC Chair Urges World to Consider U.S. Accounting Reforms

Feb. 11, 2021, 2:00 PM

Former SEC Chair Jay Clayton said that Enron-era corporate governance reforms have boosted financial reporting and audit quality in the U.S. and suggested that other countries should lean on those lessons as they respond to corporate accounting scandals.

Clayton called for the rest of the world to catch up to U.S. reporting and accounting requirements and praised the critical role that independent audit committees have played in boosting the reliability of financial reporting.

“There are places where it’s much more important,” he said.

Clayton didn’t specify which countries he was referring to in ...