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Your business is moving fast. You need to assess new developments quickly, determine if they apply to your business, and act accordingly. The Ticker is designed to focus your attention on key developments in the areas of SEC compliance, capital markets, corporate governance, executive compensation and other matters important to public companies and their officers and directors. Below are summaries of recent developments in these areas.
The Center for Audit Quality recently reviewed public company proxy statements for the robustness of disclosure concerning the audit committee’s oversight activities. The report found an increase in voluntary, enhanced disclosure relating to the audit committee’s oversight of the external auditor. In particular, according to the report, “the data shows double-digit growth in the percentage of S&P 500 companies disclosing information in several key areas of external auditor oversight, including external auditor appointment, engagement partner selection, engagement partner rotation, and evaluation criteria of the external audit firm.