Washington, D.C., Feb. 14, 2008 — Securities and Exchange Commission Chairman Christopher Cox today issued the following statement regarding the progress report presented by the Advisory Committee on Improvements to Financial Reporting:
"The Advisory Committee on Improvements to Financial Reporting today presented to the Commission a progress report on the Committee's work to date. This is an important step toward making financial information more useful for investors and reducing unnecessary complexity. I have asked the SEC's professional staff to analyze the report and its proposals, and to provide recommendations to the Commission for possible consideration later this year. I thank the Committee members for their diligent work to date and look forward to additional proposals and recommendations as the Committee continues its important work over the next few months."