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FEI Blog: Trust… But Verify

FEI Blog: Trust… But Verify

by Toby Lucich on May 19, 2007

Trust… But Verify (Thoughts on Paulsons Capital Markets Initiative)

Treasury Secretary Henry M. Paulson presented his Capital Markets Action Plan yesterday (May 17) to the masses via an OpEd in the Financial Times. Further details were outlined in Treasury’s press release, and in this speech by Under Secretary Robert K. Steel. (See our summary of key points from all the above in our blog post yesterday.)

Not only was Paulson’s selected venue to present his message of interest (the U.K. based, global newspaper Financial Times) – as noted by CFO.com Editorial Director Tim Reason in CFO.com’s blog – but I find the fact that Paulson emphasized “trust” in the title of his OpEd, “The Key Test of Accurate Financial Reporting is Trust,” to be of keen interest. In fact, with the focus of Treasury’s initial steps being the audit profession, I couldn’t help but think of “Trust.. But Verify” – one of the sayings of former President Ronald Reagan, as cited in wikipedia.

FEI Blog: Trust… But Verify

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