SEC Commissionaire Hester Peirce gave a presentation last week to the University of California Irvine Audit Committee Summit along with the Chair of…

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SEC Commissionaire Hester Peirce gave a presentation last week to the University of California Irvine Audit Committee Summit along with the Chair of the PCAOB Erica Willliams on audit and SoX. The speech discusses
1. Past scandals that drove the SoX Act.
2. The need for proactive oversight and assurance of audit firms and hints at the need for the SEC to take a more active role over the PCAOB.
3. The cost and lessons learnt of 404 compliance.
4. The provisions of SoX were a template for proposals issued in 2022 requiring boards to disclose their expertise in areas such as climate change or cybersecurity. But drive boards into a one size fits all mold that undercuts board decision making.

One suspects such speeches are well versed and proofed, maybe more about what is not said than what is say?

Ted Dziekanowski

#cybersecurity #cyberriskmanagement #cyberlaw #securitiesandexchangecommission

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