SEC Announces Dedicated Financial Reporting and Accounting Unit: Implications for Audit Committees, Boards and Public Companies

The SEC announced the creation of a dedicated Financial Reporting and Accounting Unit within its Division of Enforcement, consolidating nationwide resources and specialized expertise to investigate and bring enforcement actions related to public company accounting and financial reporting. Skadden attorneys Anita Bandy, Andrew Lawrence and Katherine Correia discuss the implications for audit committees, boards and public companies, including the steps companies should consider to ensure robust internal accounting and disclosure controls.