SEC Calls for Attention to Credit Impairment Rules
Image: With a new standard expected before the end of the year to change the way financial institutions account for credit impairments, the SEC will be looking for strong processes and controls around critical judgments. Recently, SEC Chief Accountant James Schnurr told accountants at a conference to get ready to ...
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OpinionSOX was built for humans. AI doesn’t fit that model.
For more than two decades, assurance and compliance frameworks have rested on a simple assumption: Material decisions are made by people. Post‑Sarbanes-Oxley Act (SOX) assurance reset worked because it aligned accountability with human behavior. That assumption shapes how internal controls are designed, how accountability is assigned, and how assurance is ...