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Dave Tate, Esq. comments – this discussion by Akin Gump has three points for audit committees (increased disclosures, new accounting rules, and increased scrutiny) – I agree with all three – all three relate to already-existing audit committee responsibilities – but point to the need for audit committees to be sure that their processes are up-to-date and are increasing.
A blog discussing the law, D&O, governance, liability and other aspects of public and private businesses, not for profit organizations, and governmental entities – see additional detail below - note: sometimes I post information just to pass it along on these topics (not an endorsement), and sometimes I provide only brief comments or no comments, not a more full discussion. 