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AN ALTERNATE TAKE: COULD THE SEC'S 'ROBOCOP' HAVE WORKED?

The CPA journal (1975), 2015-05, Vol.85 (5), p.22

Copyright New York State Society of Certified Public Accountants May 2015 ;ISSN: 0732-8435

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  • Title:
    AN ALTERNATE TAKE: COULD THE SEC'S 'ROBOCOP' HAVE WORKED?
  • Author: Afterman, Allan B
  • Subjects: Accounting ; Business models ; Earnings management ; Earnings per share ; Financial reporting ; Fraud ; GAAP ; International finance ; SEC regulations ; Violations
  • Is Part Of: The CPA journal (1975), 2015-05, Vol.85 (5), p.22
  • Description: As originally envisioned by Craig M. Lewis, director and chief economist of the Division of Risk, Strategy, and Financial Innovation at the SEC, the Accounting Quality Model (AQM) was intended to identify potential instances of "earnings management," which would include both creative but permitted applications of professional judgment under GAAP and fraudulent accounting practices that constitute violations of GAAP. Specifically, the AQM was expected to identify companies that have made unusual accounting choices compared with those of their peers as targets for further staff review. The issues of false positives and false negatives represent serious practical drawbacks to the AQM, as do the other disappointing results of the academic research on which the AQM was built.
  • Publisher: New York: New York State Society of Certified Public Accountants
  • Language: English
  • Identifier: ISSN: 0732-8435
  • Source: ProQuest Central
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