Jenner & Block

Client Alert: Companies Targeted for Accounting Fraud by New SEC Financial Reporting and Audit Task Force

The SEC announced on July 2, 2013, that it is creating a Financial Reporting and Audit Task Force “dedicated to detecting fraudulent or improper financial reporting.”  Jenner & Block Partners Larry Ellsworth and Tom Newkirk describe these latest changes in SEC enforcement, including the redeployment of accountants and trial attorneys.  They conclude that these changes promise that the SEC will subject financial statements of public companies to heightened scrutiny and more aggressive enforcement.