Hon. Michael G. Oxley: “Mr. Chairman, I thank my friend, the gentleman from Massachusetts (Mr. Capuano), a fine member of the Committee, for his…”

“Mr. Chairman, I thank my friend, the gentleman from Massachusetts (Mr. Capuano), a fine member of the Committee, for his good work on this amendment. I rise in strong support of it. By clarifying that at least two members of the five-member public reporting organization created by CARTA must be certified public accountants, the Capuano amendment recognizes the need for accounting expertise. Equally important, it guarantees that at least one member of the board, and potentially three, is not a CPA. That would guarantee a level of independence from the accounting profession that is absolutely essential to keeping our financial reporting system the best in the world. Mr. Chairman, I thank the gentleman and urge all Members to vote aye.”