From: Scott Pacheco [scottpacheco@hotmail.com]
Sent: Monday, July 15, 2002 9:21 PM
To: rule-comments@sec.gov
Cc: kwhawkins@ualr.edu
Subject: PAB (s7-24-02)


It is easy to see that investor confidence is at an all time low.  What the commission is offering
is a way to increase confidence in audited financial statements.  The PAB is a good start.  I
agree that to improve accountability the PAB needs to be separate from the Accounting profession
in some aspects.  To say that the board should be made up of persons not in the accounting
profession seems ridiculous.  I would not have it dominated by accountants but there are still
some ethical accountants out there.   Not including representatives from the accounting profession
would continue to diminish investor confidence.  The SEC should make their goal two fold.  You
should not only want to improve investor confidence in financial statements but also improve
investor confidence in the accounting profession as a whole.  I believe to restore confidence in
the accounting profession and in audited financial statements that the PAB, the SEC, and the AICPA
should all work together.  Independence is important but so is cooperation. Reliability will be
the result of a well-structured PAB with representatives from all fields of business and ethics.

Scott Pacheco
Accounting Student
UALR




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