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ARTICLE · 31 JANUARY 2020

SEC Year-End Guidance

Mayer Brown
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Public companies should take these pronouncements into account as the new year begins.

United StatesCorporate/Commercial Law
Michael Hermsen
Michael Hermsen
Robert Gray, Jr.
Robert Gray, Jr.
Ryan Castillo
Ryan Castillo
Brian D. Hirshberg
Brian D. Hirshberg
Laura Richman
Laura Richman
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During the last two weeks of 2019, the US Securities and Exchange Commission (SEC) offered guidance and reminders relating to:

  • The Role of Audit Committees;
  • International Intellectual Property and Technology Risks; and
  • Confidential Treatment

Public companies should take these pronouncements into account as the new year begins.

Role of Audit Committees

On December 30, 2019, the SEC's chairman, chief accountant and director of the division of corporation finance (Division) issued a joint public statement (Audit Committee Statement) on the role of audit committees in financial reporting, including key reminders regarding oversight responsibilities.1 The Audit Committee Statement included five general observations regarding the audit committee's role in financial reporting and auditing, followed by three more specific observations.

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