William J. McDonough is chair of the Public Company Accounting Board, which was created by the Sarbanes-Oxley Act of 2002. The board oversees the auditors of public companies to protect investors and the public interest.
Ten years ago, even five years ago, the American market economy was the model for and the envy of the world. The marvelous flexibility of our economy, our belief that “change” is a good word, our constant striving for innovation were and are factors that make ours an economic system that can compete with—and beat—any other.
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