Talking Tax, from Bloomberg Tax, is a weekly discussion of the most pressing issues facing tax and accounting professionals. Each week the podcast features discussions with lawmakers, federal regulators, lawyers, and journalists. From the courts to Capitol Hill to the IRS, Talking Tax has it covered.
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Talking Tax, from Bloomberg Tax, is a weekly discussion of the most pressing issues facing tax and accounting professionals. Each week the podcast features discussions with lawmakers, federal regulators, lawyers, and journalists. From the courts to Capitol Hill to the IRS, Talking Tax has it covered.
Plan to Drop 10-Qs Threatens to Trip Up Analysts' AI Models
Talking Tax
17 minutes
2 weeks ago
Plan to Drop 10-Qs Threatens to Trip Up Analysts' AI Models
A Trump administration push to reduce the frequency of corporate earnings reports risks hurting the accuracy of artificial intelligence-fueled models used by analysts, an accounting adviser said.
Chief financial officers and other C-suite leaders would in turn need to address greater reputational risk if a plan to give public companies the option to file financial reports semiannually instead of quarterly advances, according to Steve Soter, vice president and industry principal at financial compliance platform Workiva.
Companies prepare and submit quarterly reports, called Form 10-Qs, to the Securities and Exchange Commission's filing system in XBRL format, which makes the information more easily accessible and computer-readable, Soter said. Analysts' models consume this data to provide analysis and observations.
Depriving investors and analysts' AI models of this information increases the risk of erroneous analysis and ensuing reputational damage, Soter said.
On this episode of Talking Tax, Bloomberg Tax financial accounting reporter Jorja Siemons spoke with Soter about what steps C-suite leaders can take to mitigate data risks if the SEC reporting schedule shifts.
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Talking Tax
Talking Tax, from Bloomberg Tax, is a weekly discussion of the most pressing issues facing tax and accounting professionals. Each week the podcast features discussions with lawmakers, federal regulators, lawyers, and journalists. From the courts to Capitol Hill to the IRS, Talking Tax has it covered.
