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Disclosure Requirements Audit Committee

WilmerHale

Selected Reminders for Companies Ahead of First Quarter Reporting

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Global events over the past quarter have had and continue to have a variety of disparate impacts on public companies. Below are some selected disclosure reminders to keep in mind for the upcoming quarterly reporting season,...more

KPMG Board Leadership Center (BLC)

On the 2025 audit committee agenda

Drawing on insights from our interactions with audit committees and business leaders, the KPMG Board Leadership Center highlights nine issues for the audit committee to consider for the year ahead....more

Fenwick & West LLP

Securities Law Update - November 2024

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Welcome to the latest edition of Fenwick’s Securities Law Update....more

WilmerHale

PCAOB Releases New Audit Committee Resource for 2023

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The PCAOB recently released a new Audit Committee Resource, which sets forth an updated set of questions that audit committee members may want to consider incorporating into their ongoing engagement with auditors....more

WilmerHale

SEC OCA Waves Big Red Flag About “Little R” Restatements

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SEC Acting Chief Accountant Paul Munter released a statement last week, Assessing Materiality: Focusing on the Reasonable Investor When Evaluating Errors (the “Statement”), that is sure to become required reading for any...more

Mayer Brown Free Writings + Perspectives

NYSE Conforms Related Party Transaction Definition

On August 26, 2021, the US Securities and Exchange Commission (“SEC”) approved an amendment to Rule 314 of the NYSE Listed Company Manual in connection with the review and approval of related party transactions.  As we...more

Skadden, Arps, Slate, Meagher & Flom LLP

NYSE Restores Thresholds for Related Party Transactions To Align With SEC Disclosure Requirements

On August 19, 2021, the New York Stock Exchange (NYSE) filed an immediately effective rule change (Rule Proposal) restoring a transaction value and materiality threshold for related party transactions that require independent...more

Goodwin

NYSE Amends Related Party Transaction Approval Requirements

Goodwin on

On August 19, 2021, the New York Stock Exchange amended its rules that require approval of related party transactions for NYSE-listed companies. This amendment, which is effective immediately, modifies an earlier amendment to...more

WilmerHale

Reflections on the End of a Turbulent Year and Selected Considerations for 2021

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With 2021 now upon us, companies, auditors and audit committees are gearing up for another annual reporting season, coming off of one of the more turbulent years in recent history, which included a significant number of...more

Morrison & Foerster LLP

Coronavirus (COVID-19): U.S. SEC Staff Statements On Public Company Disclosure And Financial Reporting

As the COVID-19 pandemic and the measures taken to prevent the spread of the disease continue to affect public companies, the staff of the Office of Chief Accountant and the Division of Corporation Finance of the U.S....more

Akin Gump Strauss Hauer & Feld LLP

OCA Statement on the Continued Importance of High-Quality Financial Reporting for Investors in Light of COVID-19

On June 23, 2020, the Office of the Chief Accountant (OCA) of the Securities and Exchange Commission (SEC) issued another statement on the importance of high-quality financial reporting in light of the impact of, and...more

BCLP

Delaware Court of Chancery Again Declines to Dismiss a Caremark Oversight Failure Claim

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On April 27, 2020, the Delaware Court of Chancery for the third time in a year denied a motion to dismiss a Caremark claim. The case, Hughes v. Hu, involves a derivative claim against the audit committee and officers of a...more

Smith Anderson

Are You Prepared? Important Reminders for the 2020 Form 10-K and Proxy Season

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During the past year, the Securities and Exchange Commission (SEC) adopted a number of amendments to its rules and regulations and issued additional guidance that will impact the Form 10-Ks and proxy statements that public...more

Ballard Spahr LLP

GC Insights: SEC Issues Statement on Role of Audit Committees

Ballard Spahr LLP on

The Securities and Exchange Commission (SEC) issued a Statement—signed jointly by the Chairman, the Chief Accountant, and the Director of the Division of Corporation Finance—on December 30, 2019, titled, “Statement on Role of...more

Wilson Sonsini Goodrich & Rosati

SEC Issues Statement on Key Reminders for Audit Committees

On December 30, 2019, Chairman Jay Clayton, Sagar Teotia, the Chief Accountant, and William Hinman, the Director of the Division of Corporation Finance of the U.S. Securities and Exchange Commission (SEC), issued a Statement...more

Stinson - Corporate & Securities Law Blog

SEC Statement on Role of Audit Committees and Key Reminders

SEC Chairman Jay Clayton, Sagar Teotia, Chief Accountant and William Hinman, Director, Division of Corporation Finance issued a Statement on Role of Audit Committees in Financial Reporting and Key Reminders Regarding...more

Cooley LLP

Blog: EY discusses voluntary audit committee disclosures

Cooley LLP on

By now, we all know that, sooner or later, audit reports for most public companies will be required to disclose critical audit matters, which are intended to make the audit report more informative for investors. But, as this...more

WilmerHale

PCAOB Continues to Expand CAMs Resources

WilmerHale on

Earlier this month, the Public Company Accounting Oversight Board released additional resources regarding its new Critical Audit Matters (CAMs) disclosure requirement, with the latest resources targeted to audit committees...more

WilmerHale

PCAOB Issues 2019 Staff Inspections Outlook for Audit Committees

WilmerHale on

On March 14, 2019, the Public Company Accounting Oversight Board issued its 2019 Staff Inspections Outlook for Audit Committees (the “Committee Outlook”), which offers a concise outline of what audit committees should expect...more

Stinson - Corporate & Securities Law Blog

PCAOB Posts 2019 Staff Inspections Outlook for Audit Committees

In a published document, the PCAOB noted its new strategic plan anticipated enhanced external engagement and more proactive communication with its stakeholders, including audit committees, to inform them about its core...more

Mayer Brown Free Writings + Perspectives

Financial Reporting and Related Guidance from AICPA Conference

Representatives from the Office of Chief Accountant discussed new accounting standards. The Staff commented on the implementation of the new revenue recognition standard, which requires companies to provide a comprehensive...more

WilmerHale

Fifth Annual CAQ Audit Committee Transparency Barometer Report Shows ‘Encouraging’ Trends in Voluntary, Enhanced Audit Committee...

WilmerHale on

Last week, the Center for Audit Quality and Audit Analytics recently released their fifth annual Audit Committee Transparency Barometer report. As in past years, the groups “continue to observe encouraging year-over-year...more

WilmerHale

SEC Chief Accountant Addresses 2018 Baruch College Financial Reporting Conference

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In a speech delivered at last week’s 2018 Baruch College Financial Reporting Conference, SEC Chief Accountant Wes Bricker discussed objectives of financial reporting and its importance to the markets. Mr. Bricker revisited...more

WilmerHale

CAQ Releases New Non-GAAP Measures Tool for Audit Committees

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While the frequency of SEC comments on companies’ disclosure of non-GAAP measures has subsided, it remains important for audit committees to ensure their companies’ disclosures comply with applicable non-GAAP disclosure...more

Jones Day

SEC Enforcement in Financial Reporting and Disclosure—2017 Year-End Update

Jones Day on

2017 will most likely be remembered as a year of transition, as the Securities and Exchange Commission’s enforcement actions indicate, at least in the near term, an emphasis on specific initiatives and retail investor...more

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