Comments on the proposed SEC's 2010-2015 draft strategic plan

Robert Bloomfield, Theodore E. Christensen, Jonathan Glover, Sue Haka, Karim Jamal, James A. Ohlson, Stephen Penman, Kathy Petroni, Eiko Tsujiyama, Ross L. Watts

Research output: Contribution to journalArticle

1 Citation (Scopus)

Abstract

The SEC has proposed a strategic plan that sets out its mission, vision, and values, four strategic goals, a set of desired outcomes associated with each strategic goal, and a list of performance measures for assessing the SEC's effectiveness in attaining its goals. We affirm the need for vigorous enforcement of securities law and offer some research-based insights and performance indicators. We also acknowledge the importance of disclosure, but propose that the SEC needs to develop a disclosure framework and develop better operational indicators of quality of disclosure. It is important to appreciate the benefits of disclosure as well as its limits and potential dysfunctional consequences. We also discuss the need for an independent accounting standard setter and recommend that the SEC take a greater role in enhancing the independence of the FASB.

Original languageEnglish
Pages (from-to)109-115
Number of pages7
JournalAccounting Horizons
Volume24
Issue number1
DOIs
Publication statusPublished - 2010 Mar
Externally publishedYes

ASJC Scopus subject areas

  • Accounting

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    Bloomfield, R., Christensen, T. E., Glover, J., Haka, S., Jamal, K., Ohlson, J. A., Penman, S., Petroni, K., Tsujiyama, E., & Watts, R. L. (2010). Comments on the proposed SEC's 2010-2015 draft strategic plan. Accounting Horizons, 24(1), 109-115. https://doi.org/10.2308/acch.2010.24.1.109