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SAM DIPIAZZA on the credit crisis
Sam DiPiazza, CEO of Pricewaterhouse Coopers, speaks with Chrystia Freeland, US Managing Editor in Part 1 of this two part interview, and says that the current crisis is due to market, not accounting, problems. He supports fair value accounting that allows for market realities to be clearly reflecting in financial reporting, and says that Sarbox was the right answer to a lot of problems in the accounting world that came to light with Enron and WorldCom, though he believes it went too far in some areas. He discusses Secretary Hank Paulson's recent recommendations on financial sector oversight. Next week, Susan Lyne of Martha Stewart Living. If you have a question for Susan Lyne, please email it to the address below.