    [Public Papers of the Presidents of the United States: George W. Bush (2002, Book II)]
    [July 15, 2002]
    [Page 1247]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Statement on Senate Action on Corporate Accountability Legislation
    July 15, 2002

        In February, I outlined measures to protect the pensions of
    America's workers from corporate wrongdoing. In March, I proposed a
    series of initiatives to improve shareholder information, strengthen
    corporate governance, and create a stronger, more independent accounting
    system. Last week, I called for additional far-reaching reforms. I am
    pleased the Senate has now acted on a tough bill that shares my goals
    and includes all of the accounting and criminal reforms I proposed. The
    House previously passed strong reform legislation to get tough on
    corporate malfeasance and significantly improve oversight of the
    accounting profession. I urge the House and Senate leaders to get a bill
    to my desk before the August recess. We owe it to America's workers and
    shareholders to crack down on wrongdoing and fix the system to prevent
    future abuses.

    Note: The statement referred to H.R. 3763, the proposed ``Public Company
    Accounting Reform and Investor Protection Act of 2002.''