More Than A Machine: “Robocop” Stole The Headlines, But The Financial Reporting And Audit Task Force Is The Real Driver Behind The SEC’s Refocus On Accounting Irregularities
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On July 2, 2013, the United States Securities and Exchange Commission (the SEC) announced two new initiatives aimed at preventing and detecting improper or fraudulent financial reporting. We previously noted that one of these initiatives, a computer-based tool called the Accounting Quality Model (AQM, or “Robocop”), is designed to enable real-time analytical review of financial reports filed with the SEC in order to help identify questionable accounting practices.
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