FOR IMMEDIATE RELEASE                                     99-100


       SEC Chief Accountant Solicits Academic Research on
 Key Accounting Issues Facing the Commission and the Profession


     Washington, DC, August 17, 1999 -- Securities and
Exchange Commission Chief Accountant Lynn E. Turner has issued a
call to academic accountants throughout the country to conduct
research on a variety of important and timely accounting issues
that face the Commission and the accounting profession.  The
research papers will be considered for presentation at a
conference the Commission's Office of the Chief Accountant is
considering hosting that would bring together members of standard-
setting groups, regulators, preparers, users, and academics.

     In an August 15, 1999 letter to leaders of the American
Accounting Association, Mr. Turner wrote, "Members of the
American Accounting Association have long been instrumental in
accounting standards setting and regulation by providing useful
perspectives for consideration of evolving issues.  A number of
important issues that can influence the usefulness and integrity
of financial reporting now demand the concerted efforts of our
best minds.  Proper resolution of these issues can ensure that
our capital markets continue to function efficiently and remain
the envy of the world."

     Mike Diamond, President of the American Accounting
Association, said, "The Association looks forward to
participating with the SEC in this effort to improve world wide
financial reporting."

     The Chief Accountant seeks research on the following topics:
audit effectiveness, auditor independence, accounting and
financial disclosure, and international accounting and auditing.

     The SEC reviewing committee will provide first consideration
to papers received by March 1, 2000, but will also consider
papers received after that date.  Research papers should be sent
to:  Academic Fellow, Office of the Chief Accountant, Securities
and Exchange Commission, Washington, DC  20549-1103.

     For a copy of the letter and the list of research topics,
please call 202.942.0020.

     For additional information, please contact Dick Dietrich at
202.942.4400.

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