November 4, 2002 News Archive

Board Releases Most Recent Beige Book
The Fed recently released the latest edition of its Beige Book, with the majority of Districts reporting continued sluggish economic activity. Details are available in the full report, including individual Reserve Bank summaries.

Treasury Department Issues USA PATRIOT Act Report to Congress
The US Treasury Department issued a report (PDF) to Congress addressing issues related to domestic financial institutions' ability to verify the identity of foreign nationals who open accounts.

SEC Announces Founding Members of Accounting Oversight Board
The Securities and Exchange Commission (SEC) announced the founding members of the Public Company Accounting Oversight Board to be chaired by William H. Webster. Pursuant to the Sarbanes-Oxley Act of 2002, the Oversight Board will oversee the audits of the financial statements of public companies through rigorous registration, standard setting, inspection and disciplinary programs.

Sarbanes Releases GAO Report on Accounting Irregularities
Senate Banking Committee Chairman Paul S. Sarbanes released a 272-page GAO report (PDF) that provides a comprehensive analysis of accounting restatements due to accounting irregularities.