SEC's Accounting Quality Model expected to spot possible fraud

01/30/2013 | Compliance Week

The Securities and Exchange Commission is a year away from delivering its so-called Accounting Quality Model -- a system that will analyze submitted regulatory filings with an eye to spotting fraud. It will use XBRL tags and allow SEC staff members to create customized reports for any company. The system will be able to statistically distinguish non-discretionary accruals from discretionary accruals that may flag fraud.

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