SEC Chairman Christopher Cox is crediting the incorporation of interactive data into SEC filings for the discovery of "a pandemic of crooked accounting" linked to stock option backdating. Cox said the Internet programming language XBRL is helping his staff root out fraud by tagging financial data. The chairman even compared his team of enforcers to the characters in the hit TV show "Heroes," saying his enforcement staff is a group of otherwise ordinary people with extraordinary talent and dedication.
Cox: 'Heroes' Armed With Tech Lead Backdating Crackdown
February 13, 2007