高质量会计准则的重要性外文翻译.docVIP

外文文献翻译 原文 The importance of high quality accounting standards I want to tell you how excited I am about the hemisphere-wide investor education campaign that the Council of Securities Regulators ofthe Americas (COSRA) will launch March 1998. Each COSRA memher will run programs in its own country as part of the campaign. Initiatives will include town meetings and radio and TV announcements that raise awareness of important issues to consider when investing. I understand that hot lines also will be established for investor complaints. As one who has led some 20 town meetings for individual investors across the U.S. over the last several years, I heartily endorse this project. The benefits of investor education are many. Not only do educated investors protect themselves better, but they also are willing to invest their money to provide capital to new and expanding companies, thereby allowing businesses and jobs to grow, as well as contributing to regional economic stabihty. Informed investors are an important ingredient of liquid, stable capital markets. I wholeheartedly support this important COSRA initiative. Let me now move on to the main subject I want to discuss with you: the need for high quality accounting standards. While this may seem miles removed from investor education, it really isnt. Educated investors need relevant, useful information to make their investment decisions—and that is what high quality accounting standards deliver. The SEC is concemed with accounting standards because of our mandate to protect investors. U.S. securities laws, as well as the SECs own rules and regulations, all spring directly from this basic concept. We pursue this mandate not through merit regulation—allowing only healthy companies to trade their securities—but by market regulation. Ever since the SEC was established in 1934, our approach has been to require companies that wanted to list or trade their securities to comply with initial and continuing disclosure obligat