On the recordApril 24, 2002
I praise the gentleman from New York (Mr. LaFalce) for introducing legislation that would have prevented that tragedy. I am particularly concerned about a provision in the Republican majority bill which does not allow State boards of accountancy to know if there have been irregularities and penalties imposed. Let me refer Members to a letter from James Caley, a CPA from Vancouver, Washington, who called for precisely such notification. Mr. Caley wrote, ``A system which encourages cooperation between State and Federal regulatory agencies increases the overall effectiveness of both entities, ensuring maximum protection to the public.'' State agencies need to know if there have been irregularities recognized by Federal entities. The Republican bill, the majority bill, does not provide that notification. The substitute of the gentleman from New York (Mr. LaFalce) does. I commend the gentleman for including that.
Source
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