Although the new post- Sarbanes-Oxley accounting regulator, the PCAOB, has been working very hard to update and strengthen many of these standards for the benefit of investors, they have, in reality, had a hard time making substantial changes to many of them.

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She left that post last year amid criticism of the regulator's performance.

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He too is seen as having done a good job in a previous post, as head of the state commodity regulator.

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