In the Enron scandal, the accounting industry has been the profession taking the most heat.
Since its introduction F9 has become to be considered as one of the accounting industry standard reporting tools.
But many of those who pushed for a tough law fear that the board will be too willing to listen to the accounting industry's leaders.
The reputation of the accounting industry has been badly damaged.
But there may be less confidence in a smooth transition within the accounting industry.
The Senate bill approved in committee makes some concessions to the accounting industry.
Schumer had taken $329,600 from the accounting industry over the last five years.
Some reformers believe that a full-time board, with all or most of its members from outside the accounting industry, will be needed.
It was word that Congress had agreed on a plan to create a new independent oversight board for the accounting industry.
But he failed to tell that board's members about his plan before discussing it with leaders of the accounting industry.