Recent developments have resulted in an increase of the workload borne by the public company audit committee. Those developments include new issuer obligations as a result of Section 404 of the Sarbanes-Oxley Act; continuing restatements, fraud, errors, internal investigations and SEC enforcement proceedings; ongoing onslaught of new and complex accounting and financial reporting pronouncements; auditor independence rules; and, review and approval of related person transactions. The audit committee may now find itself filling a litany of new roles, including investigator, arbiter and advisor as to diagnosis and remediation of company problems, corporate monitor, and primary liaison with the SEC and other government organizations.
Read the complete article by clicking the link below.
Read the complete article by clicking the link below.
Author(s)
Related Insights
June 17, 2025
Health Care Law Today
Oregon’s New Corporate Practice of Medicine Restrictions: Five Takeaways for Digital Health and Telemedicine Companies
On June 9, 2025, Oregon’s governor signed SB 951 into law, making Oregon one of the most restrictive states in the country with respect…
June 17, 2025
Foley Viewpoints
Federal Court Enforces Forum Selection Clause in Dealer Dispute with Equipment Manufacturer
A federal district court recently enforced a forum selection clause in National Equipment Dealers, LLC v. IROCK Crushers LLC,…
June 17, 2025
Tariff & International Trade Resource
What Every Multinational Company Should Know About … Mitigating Risks Posed by the New Trump Administration Focus on Drug Cartels and TCOs
The Trump Administration’s crackdown on cartels and transnational criminal organizations operating abroad and in the United States is a significant Department of Justice priority.