Firm Memoranda

SEC Officials Issue Statement on Role of Audit Committees in Financial Reporting and Key Reminders Regarding Oversight Responsibilities

Date: 02/03/20

Top officials at the Securities and Exchange Commission (“SEC”) recently released the Statement on Role of Audit Committees in Financial Reporting and Key Reminders Regarding Oversight Responsibilities (“Statement”). The Statement represents the views of the Chairman, Chief Accountant, and Director of the Division of Corporation of Finance, and is not a rule, regulation, or statement of the SEC, which traditionally has not opined on matters of corporate governance. That said, the Statement is important guidance for audit committees of public companies to consider.

SEC Officials Issue Statement on Role of Audit Committees in Financial Reporting and Key Reminders Regarding Oversight Responsibilities.pdf (pdf | 87.59 KB )