MADISON, Wis.–Paul Sarbanes, the former Democratic senator from Maryland and co-author of The Public Company Accounting Reform and Investor Protection Act, better known as Sarbanes-Oxley, will keynote the World Council of Credit Unions' 2008 World Credit Union Conference. This year's event takes place in Hong Kong July 13 through16.
The longtime credit union supporter's keynote address will focus on the importance of good governance in today's business world.
Sarbanes and then Rep. Michael Oxley (R-Ohio) co-authored the 2002 bill that created a strong independent oversight board that monitors the auditors of public companies, sets accounting standards and investigates and disciplines accountants. It holds corporate leaders personally responsible for the accuracy of their company's financial reports.
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Created in the wake of the Enron and Worldcom failures, it also is credited for transforming the business world and restoring worldwide public confidence in Wall Street by holding companies liable for unethical actions.
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