In light of the Enron debacle, the events of September 11, 2001, the continuing difficult economic climate and financial market condition and recent pronouncements by the Securities and Exchange Commission (SEC), public companies should place increased focus on the clarity and completeness of their financial disclosure.  In particular, each company should devote substantial attention to the Management’s Discussion  and Analysis of Financial Condition and Results of Operations (MD&A) to be included in its periodic reports filed with the SEC.  The MD&A should be carefully crafted to enable investors to evaluate the company’s performance and financial condition and gauge its prospects for the future.  Achieving this objective may require a reexamination of the disclosure that has been provided in prior periods.