On August 5th, the SEC announced that it is creating a Financial Reporting and Accounting Unit within Enforcement to expand its focus on accounting and financial reporting fraud and misconduct. The unit will coordinate with other SEC divisions to support consistent enforcement aligned with Commission priorities. It will be staffed by attorneys and accountants with specialized expertise in financial reporting, accounting, and auditing.
The SEC expects the new unit will:
- create a specialized Enforcement unit focused on accounting and financial reporting misconduct
- coordinate with other SEC divisions to ensure consistent enforcement aligned with the SEC’s priorities
- broaden efforts to pursue financial reporting fraud and auditor/accounting violations
- employ specialized attorneys and accountants in financial reporting and auditing
For more information on the SEC’s Division of Enforcement, please visit the Division’s webpage.
Source:
SEC Establishes Financial Reporting and Accounting Unit in Enforcement Division (sec.gov)
