Giovanni P. Prezioso replaces David M. Becker as the
SEC’s general counsel. Coming from the Washington office of
international law firm Cleary, Gottlieb, Steen & Hamilton,
Prezioso has extensive experience in securities-related legal matters.
Becker resigned to return to private practice after serving as the
commission’s chief legal officer since 1999. ( www.sec.gov/news/press/2002-51.txt
)
The International Federation of Accountants names the 18
members of its new International Auditing and Assurance Standards
Board, which replaces the International Auditing Practices Committee.
The board includes three Americans—John L. Archambault, Richard Dieter
and Edmund R. Noonan. ( www.ifac.org/News/LastestReleases.tmpl?NID=101681188625070
)
The Treasury and the Office of Management and Budget
release the fiscal year 2001 Financial Report of the U.S.
Government. The GAO was unable to express an opinion on the
reliability of this year’s statements, primarily because of financial
management deficiencies at the Department of Defense and the
impossibility of tracking transactions between government entities. To
improve the accuracy and timeliness of federal financial reports, the
White House proposes accelerating delivery of audited statements,
requiring quarterly and comparative reporting and integrating
government entities’ performance and financial information. (
http://fms.treas.gov/cfs/01frusg/01frusg.pdf )
The 16th World Congress of Accountants will take place in
the Hong Kong Convention and Exhibition Centre November 18–21, 2002 (
www.wcoa2002.com ). The Hong Kong Society of Accountants and the
International Federation of Accountants are jointly organizing the
gathering, which they expect will attract accounting and business
leaders from around the world. 
