SEC Puts Fear Back in Checking the Mail

If it feels like the Securities and Exchange Commission is asking more questions about corporate America's financial practices, that's because it is.

But just how much more vigilant the SEC has become in the wake of the Enron (ENRNQ Quote) accounting scandal is hard to quantify. Following the collapse of Enron, government officials, along with the entire accounting profession, have come under fire for failing to detect the energy company's questionable bookkeeping practices earlier. Since then, the SEC has been scrambling to analyze annual reports for possible accounting irregularities or misstatements.

"The enforcement division says it is opening up more investigations but it doesn't have a statistic to point to," said SEC spokesman John Nester. ...