On December 30, 2019, the Securities and Exchange Commission released a Statement highlighting eight areas that audit committees should focus on this reporting season. The succinct Statement acknowledges the “vital role” that audit committees play in the financial reporting system and emphasizes that “[e]ffective oversight by strong, active, knowledgeable and independent audit committees significantly furthers the collective goal of providing high-quality, reliable financial information to investors and our markets.”
See our recent Client Alert for a discussion of these best practices and related insights into the Commission’s latest guidance.
