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"This lax system undermines financial regulation at every level and puts our economy at risk".
Under the current lax system, there is no guarantee that the substitutes for ephedra will be any safer.
Investigators found a lax system for monitoring employees who work from home — some as far away as California.
At one level, the scandal is a rich tale of politicians exploiting a lax system of expenses to claim a mind-boggling array of benefits.
By extending the right to perform such marriages to other groups that reflect a whole variety of beliefs and lifestyles, you weaken still further a lax system.
They have a return on assets of just 0.3% (HSBC's return on assets is 1.6%).The real picture is undoubtedly much bleaker, for China has a lax system of accounting for bad loans, and unpaid interest on non-performing loans is usually booked as profit.
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The fines on Standard Chartered follow accusations that lax systems left the US financial system vulnerable to "drug kingpins" and terrorists.
The rest of the European Union has accepted new guidelines from the European Commission, but these are what the profession calls sensible.If Mr Sarbanes's proposal becomes law, without too many concessions along the way, America may find that it has gone from having one of the world's laxest systems of audit regulation to having one of the most rigorous.
But there is also a case for revisiting the industry's lax tax system, especially if compensation remains high.
Right wing extremism suggests the West is committing cultural suicide through its lax judicial system and naïve multiculturalism.
In fact, Greece's international creditors have made revamping its notoriously lax tax system a primary condition for any additional bailout financing.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com