CPAs and Advisors with Your Growth in Mind

SEC Proxy Voting Roundtable Set for Early 2015

As the debate heats up on which rules the Securities and Exchange Commission (“SEC”) should use for expanding or limiting a shareholder’s influence, the agency has decided to hold a public discussion on proxy voting issues. Scheduled for early next year, the roundtable marks the second time in recent memory the SEC has solicited feedback on the topic and will review the Investor Advisory Committee’s (“the Committee”) recommendation of updating proxy ballot rules. As part of its revised rules push, the Committee wants Rule 14a-4(d)(1) of the Securities Exchange Act of 1934 to permit the use of a universal proxy. Read More.

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SEC & PCAOB Discuss Audit Committee Disclosures

Uncertain how to complete its audit report requirement of disclosing an audit firm’s lead partner on a client engagement, the Public Company Accounting Oversight Board’s (“PCAOB”; “the Board”) project may no longer be needed if the U.S. Securities and Exchange Commission (“SEC”; “the Commission”) decides to make it a requirement to disclose the name in the proxy statement. Investors continue to support the requirement for the lead partner to sign their name on the audit report as established in PCAOB’s Concept Release No. 2009-005, Requiring the Engagement Partner to Sign the Audit Report. Many believe the lead partner’s signature influence. Read More.

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