Thank you, Madam Chairwoman. And I want to begin by thanking you for holding this important hearing.

And it is interesting. Mr. Cole, I was listening to your comments, and I agree wholeheartedly.

Sometimes, when you throw more water on it, the building burns faster.

I asked him a question last week or 2 weeks ago in a hearing, that he is walking into all of these examinations with an attorney.

the reliability of a financial statement would allow businesses to access capital, markets to attract investors, and create jobs.

So I know I am running out of time here. But do you think U.S. GAAP will remain a valid set of accounting pronouncements?

Again, I want to thank all the witnesses for being here.

If the internal controls say that he can do anything he wants and nobody can stop him, that is not a very good internal control.

Would that be a breakdown in internal control, in your eyes as a CPA, and somebody who worked for Pricewaterhouse in a global firm, would that be a breakdown in internal control if the CEO could actually make decisions like that without…

the regulatory overreach is part of it. The regulatory cost is part of it, the impractical rules that we have put on our economic system.

I want to thank all of the members of the panel for testifying this morning.