Protection Act could boost confidence

The US law aiming to safeguard the credibility of corporate accounts is expected to lead to increase...

The US law aiming to safeguard the credibility of corporate accounts is expected to lead to increased short-term volatility in the markets. In the long-term, however, fund managers at Aberdeen and New Star believe the Public Company Accounting Reform and Investor Protection Act of 2002 could go a long way to restoring investor confidence in the US. The Act, which is introduced on 14 August, requires the chief executives and chief financial officers of all US companies with revenues in excess of $1.2bn to personally swear an oath that they believe their company's financial statements to ...