Insights
Client Alert
Increased Liability for Audit Committee Financial Experts?
June 01, 2003
Chad Conwell
After proposing rules under the Sarbanes-Oxley Act of 2002 requiring a company to disclose whether or not a financial expert serves on its audit committee, the Securities and Exchange Commission faced a flurry of comments objecting to the disclosure on the ground that it could increase the personal liability of the designated financial expert.