SEC Plans Early 2015 Concept Release on Audit Committee Upgrades
Perhaps in early 2015, the Securities and Exchange Commission is expected to issue a concept release exploring possible avenues to elevating the work of public company audit committees, according to SEC Chair Mary Jo White.
WhiteIn brief remarks to the Investor Advisory Group of the Public Company Accounting Oversight Board, White said the staff is working on a concept release that will address “many of the same issues” that one particular working group of the IAG explored with respect to the relationship between the audit committee and independent auditors. “I can’t overstate the importance of the audit committee functioning at the highest possible level,” she said. The staff’s concept release will address many of the issues explored by the working group, she said. We are quite actively engaged on them.” Read more on Compliance Week.