David Walker, Comptroller General of the United States, paid a visit to and spoke to NIU business majors Wednesday.

In his speech entitled “Transitions and Transformations,” which he gave in the new Barsema Hall Auditorium, he outlined what the government needs to do to change its auditing standards.

Don Tidrick, associate professor of accounting, said that Walker’s speech would cover challenges facing the country and the accounting profession.

Attending the speech was William Holland, Auditor General for Illinois State, and NIU Provost Ivan Legg.

In the first part of his speech, Walker outlined the framework of the General Accounting Office plan for ensuring the accountability of the federal government.

Goals and objectives of the plan includes addressing challenges to the well-being and financial security of the American people, specifically education and protection of children, and protecting natural resources and the environment.

A major theme of the plan involves national security and preparedness of the government.

“Ninety percent of success, or failure, is based on implementation,” Walker said.

Walker showed, via pie charts, the division of spending comparing the 1962 federal budget as compared with the 2002 estimates. He talked about how even though defense spending has decreased by more than 50 percent since the ’60s, the level of defense has stayed the same.

He talked about transformations the new GAO plan wants to institute. Keys to making change happen include being committed and having sustained leadership as well as measurable progress of time with an emphasis on communication.

Walker also briefly covered homeland security issues and ways to be successful in implementation. Among these keys to success are having a strategic planning and financial management.

He concluded his speech by talking about necessary changes in the accounting profession. Walker said in order to make the changes certain, concepts must be realized.

Topping his list was the simple adage, “Greed is bad.” A simple statement for a complex issue.

Walker started out working for Price Waterhouse and Cooper and had worked for Arthur Andersen for nine years. However, he said that he has not worked for Andersen for nearly 10 years.

“Let me say this right on. I was not part of Enron and WorldCom,” Walker said. “A few people didn’t do their job, with cataclysmic results.”

Eric Ferdinand, a graduate student in accounting, was in attendance for the speech.

“I think it’s a privilege for someone of his status and responsibility to come and speak at NIU,” Ferdinand said.