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Bon mots

"You can observe a lot just by watching." Yogi Berra

"We do not distain to borrow wit or wisdom from any man who is capable of lending us either." Henry Fielding, Tom Jones

"In our complex society the accountant's certificate and the lawyer's opinion can be instruments for inflicting pecuniary loss more potent than the chisel or the crowbar." United States v. Benjamin, 328 F.2d 854, 862 (2d Cir. 1964)

PCAOB Stay Order Terminated

Gately & Associates, LLC and James P. Gately, CPA, Exchange Act Rel. 63167, October 22, 2010.

PCAOB sanctions are stayed upon an application to the Commission for review. Under § 105 of Sarbanes Oxley the stay remains in effect until the Commission lifts it. In August the Commission issued an opinion affirming the findings and disciplinary action imposed by PCAOB on Gately and his firm. Since that opinion did not specifically lift the automatic stay this separate opinion by the Commission does so.