In contrast, it is much more difficult to identify, investigate and build case of accounting fraud against a public company. It takes time and resources. Prosecuting accounting fraud should be the SEC’s bread and butter. The SEC needs to root out accounting fraud, comb and develop possible sources of such fraud, and monitor financial reporting of public companies. These are — and should be — the SEC’s primary focus. For some reason, the SEC has veered off course. It is important for the SEC to right its ship and start concentrating on its core mission.
Read more: The SEC’s Important Enforcement Role — Corruption, Crime & Compliance
