Margaret McGuire, Vice Chair of the SEC’s Financial Reporting and Audit Task Force, recently offered insight into the purpose and goals of the Task Force. Speaking at a D.C. Bar event on February 11, McGuire indicated that the Task Force was established in an effort to ensure that the SEC is doing everything it can to detect and investigate financial fraud issues as early as possible. Acknowledging that there have been fewer financial reporting enforcement actions over the last several years, McGuire said that it is hard to determine whether less fraud occurred or whether the SEC missed fraud that occurred.
‘Enforcement 40’ for 2020
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