When CPAs think of analytics, the first thing that usually comes to mind is the use of analytics as one of the procedures employed in the financial statement audits. That thought may need to change, however, in view of current developments. The Securities and Exchange Commission's newly renamed Division of Economic and Risk Analysis (ERA) has announced this year's rollout of a predictive accounting quality model, or AQM, which uses proprietary analytics to assess the quality of public company accounting. When the AQM identifies unusual ratios, transactions, or outliers, ERA will be passing that information on to examiners in the Division of Corporation Finance or Division of enforcement, as appropriate
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