The disciplinary actions from the SEC are coming in a steady flow and the agency appears vigilant in tracking down those who abuse their positions through inside trading and who swindle the public through manipulating financial results and through fraudulent investments. But there's a nagging thought that tail end of this is often an action against a CPA that ends up barring the professional for a year or more, or even for life from practicing before the SEC, that the process needs to reach speedier conclusions more often. Given that the issues that result in such bans often follow court actions from investors and regulators, it's not like the people who have been subject of these actions have had an easy time of it.

Still there have been several disciplinary actions this year - and I'm sure if we look through the past records this is the norm - in which bans have been issued for professional work that was finished four or more years ago.

It is more important to halt the wrongdoing, such as actual stealing and fraud, immediately that whack the auditor for work that missed the problems. Yet, seeing lifetimes bans imposed on CPAs who appear to be at retirement age for work performed at a firm that no longer exists has an odd ring. Punishment would be more meaningful if imposed closer to the time of the offense when a ban would carve more year's off the auditor's involvement with public companies.