News & Analysis as of

Financial Reporting Corporate Governance ICFR

Ballard Spahr LLP

GC Insights: SEC Issues Statement on Role of Audit Committees

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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

Mayer Brown Free Writings + Perspectives

Legal Update: Ring in the New Year with SEC Year-End Guidance

During the last two weeks of 2019, the US Securities and Exchange Commission offered guidance and reminders relating to the role of audit committees, international intellectual property and technology risks, and confidential...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

WilmerHale

Regulators Address the 2019 Baruch College Financial Reporting Conference

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Always a fertile source of regulatory perspective, this year’s Baruch College Financial Reporting Conference featured a future-oriented theme in remarks by Chief Accountant of the Securities and Exchange Commission Wesley...more

Locke Lord LLP

SEC Takes Seriously Both Internal Control Weakness Disclosure and Remediation

Locke Lord LLP on

On January 29, 2019, the SEC announced settled enforcement actions against four companies for failures to maintain internal control over financial reporting (“ICFR”) as required by Section 13(b)(2)(B) of the Securities...more

WilmerHale

Recent Enforcement Actions Underscore Importance of Timely Remediating Material Weaknesses in ICFR

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Earlier this week, the Securities and Exchange Commission announced that it had settled charges against four public companies for failing to maintain internal control over financial reporting (ICFR) over the course of seven...more

Cooley LLP

Blog: When it comes to ICFR, the SEC will not tolerate if you do not remediate

Cooley LLP on

Now back to work, SEC Enforcement once again takes up the issue of internal control over financial reporting. In this instance, the SEC announced settled charges against four public companies for failing to remediate...more

Skadden, Arps, Slate, Meagher & Flom LLP

Capital Markets Alert – Public Market Advocacy Groups Release Guidance

On April 27, 2018, the Securities Industry and Financial Markets Association (SIFMA), the U.S. Chamber of Commerce and Nasdaq, along with certain technology and biotechnology groups, released a policy paper titled “Expanding...more

WilmerHale

SEC Chief Accountant Discusses Audit Committee Effectiveness, Other Current Topics

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In a pair of recent speeches, SEC Chief Accountant Wesley Bricker discussed the critical role audit committees play in the financial reporting process, explored current challenges confronting audit committees, and offered...more

Orrick, Herrington & Sutcliffe LLP

Recent SEC Enforcement Actions and Public Commentary Demonstrate the Commission’s Continued Focus on Internal Control Failures

We have previously written about how, over the past few years, the SEC and other regulatory agencies have devoted substantial resources to investigations regarding allegations that public companies have inadequate internal...more

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