From: Tiffany P. Hurley [tiffany@catheycpa.com]
Sent: Tuesday, July 16, 2002 11:23 AM
To: rule-comments@sec.gov
Cc: kwhawkins@ualr.edu
Subject: PAB (s7-24-02)


I think a PAB would be good for the accounting profession, but I am not sure if the proposed PAB
is exactly what we need.  I feel that if we are doing our jobs correctly and accurately we should
not be hindered by an oversight board.  Although, if the board that will be doing the oversight
does not understand the profession or the way an audit works,  can they really be a help?  It is
not very clear to me how they will be able to do quality control checks over audits if they do not
know about how an audit works.  The proposed PAB sounds good, and something needs to be there to
hold a higher power and be able to discipline, but not something that consists of non accountants.
You don't have law enforcement that doesn't understand the law.  The proposed PAB is supposed to
have be an effective oversight for the accounting profession, but does not want accountants to be
the ones to do it?  Then who?  Who else understands enough to be able to effectively look into and
discipline the profession.  We need a PAB, but we need it to be a private entity of accountants,
not affiliated with the AICPA, who can look into matters of audit with a knowing eye and be able
to discipline if needed.  I feel to make this committee impartial it would not need to be funded
by the companies, but by the the market.  This way they would be working for the investors not the
accountants or the companies.  I am new to the accounting profession and I wish that an oversight
board was not needed, but since mistakes have been made that have been so large, I don't see how
we can keep going along like we are now.  Someone or something has got to step in to balance out
the client/auditor relationship.  

Tiffany
Accountant/Student