Chris Cox goes before the Senate

Chris Cox was questioned by the senate yesterday and the big news (at least to an accountant) was his statement that he would support the FASB's stock option standard. This is from the Jurist:


Corporations and securities brief ~ SEC nominee Cox grilled by Senate committee
James Murdock

[JURIST] Leading Tuesday's corporations and securities law news, President Bush's nominee to head the SEC, Rep. Christopher Cox [congressional profile], told the Senate Banking Committee [official website] Tuesday that he would vigorously enforce securities laws. Cox also pledged to enforce the controversial Financial Accounting Standards Board [official website] (FASB) rule requiring companies to count stock options given to employees as a business expense. As a congressman, Cox had introduced a bill intended to limit the SEC's power to force companies to comply with the rule.