October 30, 2013 Articles

SEC Discusses New Task Force and Changes to Settlement Policy

The SEC's new Financial Reporting and Audit Task Force will use analytical tools to identify and incubate cases in six focus areas, resulting in more fraud investigations.

By Elissa Preheim and Bret Finkelstein

Andrew Ceresney, co-director of the Division of Enforcement in the Securities and Exchange Commission (SEC) , recently proclaimed that “the SEC is back and better than ever” when it comes to accounting fraud. Both Ceresney and David Woodcock, director of the SEC’s Fort Worth Regional Office, discussed the SEC’s recently created Financial Reporting and Audit Task Force as well as changes to the commission’s settlement policy during the ALI Accountants’ Liability Conference, September 19–20, 2013.

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