Inside this edition:
Confirmation of SEC nominees unclear after Democrats block vote
Four Democratic senators withheld their support for two SEC nominees because the nominees had not pledged to back a rule that would require companies to disclose political contributions.
PCAOB proposes rules addressing auditor supervision of other auditors
On April 12, the PCAOB proposed new rules that address the lead auditor’s supervision of the work of other auditors and the division of responsibilities with those auditors.
Regulation S-K disclosure effectiveness concept release issued
The concept release seeks input on the overall disclosure framework, business and financial disclosure requirements, and the presentation and delivery of disclosures.
CII wants no dual-class stock structures for IPOs
The institutional investor group wants a “one-share, one-vote” structure, simple majority vote standards, independent board leadership, and annual director elections for IPO companies.
DOJ launches FCPA self-reporting pilot program
The US Department of Justice implemented a pilot program to allow companies to self-report FCPA violations.
Read the full Governance Insights audit committee briefs
Worth reading
Proxy access – A key development in shareholder rights
This new PwC publication describes the background and current trends of proxy access, one of the top governance issues for investors.
Boards are in the hot seat over dividends, stock buybacks (registration required)
In this Compliance Week article, Paul DeNicola, a managing director with PwC’s Governance Insights Center, discusses companies’ use of corporate cash.
Click here to read the full Governance Insights audit committee briefs
This audit committee brief was created by our partners at PwC Governance Insights Center.
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