[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.''