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A very interesting SEC keynote on the the role of the board and ESG reporting. Making it clear that some public organisations are more influential on the global economy that some counties. ‘A 2018 report highlighted that 71 of the top 100 revenue generators globally were corporations while only 29 were countries.‚ In other words, corporations ¢â‚¬â€œ in many cases U.S. corporations ¢â‚¬â€œ often operate on a level or higher economic footing than some of the largest governments in the world’
Placing the boards of these companies in very influential positions to impact financial markets and the economy. With a significant onus on the management and governance. We are aware that cyber risk is a top 5 global non-financial risk, one the SEC are looking to incorporate in board room governance. Making it clear that as with SoX boards at listed companies directly oversee the audit of financial statements.
If you miss it look at [35] and the SEC 2021 audit agenda for cyber security risk governance. Disclosure of cyber risks outside of financial statements. Which may implicate ESG considerations.
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