SAXE LECTURES IN ACCOUNTING
"A CRITIQUE OF THE RATIONALE FOR REQUIRED CORPORATE FINANCIAL DISCLOSURE"
by George J. Benston, Professor of Accounting and Finance, Graduate School of Management University of Rochester , May 6, 1974.
George J. Benston is currently professor of finance, accounting, and economics in the Goizueta Business School and professor of economics in the college of arts and sciences at Emory University.
[http://newman.baruch.cuny.edu]
THIS IS A MEMORIAL WEBSITE. THE QUOTE ON THIS PAGE IS TAKEN FROM NEWMAN.BARUCH.CUNY.EDU VERBATIM. THIS WEBSITE IS IN NO WAY CONNECTED WITH THE SAXES LECTURES IN ACCOUNTING SERIES. PLEASE VISIT THE LINK AT THE BOTTOM OF THE PAGE TO VIEW THE ENTIRE ARTICLE.

"Thus, investors should not assume that the 'bad old days' have passed. Rather, as SEC chairman Ray Garrett, Jr. observed recently: 'We have had cases of fraud and mismanagement and disregard of investor interest that rival anything known to the men of 1933 who set about to construct a system that would make the world safe for small investors ... '(2) Considering such frauds as Equity Funding and Home Stake Production (among others), the investor would do well not to forget the pre-SEC warning, caveat emptor."

* For more information

back