As businesses move deeper into 2023, evolving regulatory trends and intensifying enforcement efforts require detailed attention to issues such as climate and cybersecurity. Meanwhile, economic headwinds are posing sector-specific business challenges.
In this 60-minute discussion designed for corporate leaders, audit committee members and board members, our panel addressed the following topics and considerations (with corresponding timestamp):
Regulatory trends (1:25)
- The Securities and Exchange Commission’s recent enforcement priorities, including individual accountability. (2:29)
- Actions boards of directors can take to refine compliance programs and facilitate timely disclosure of relevant information. (12:19)
- The timelines for the SEC to finalize regulations related to climate and cybersecurity, propose additional rules on human capital and board diversity, and protect those who invest in crypto assets. (8:20)
Regulations of environmental, social and governance performance (18:27)
- Challenges, complexities and risks that could result from the SEC’s climate risk disclosure proposal. (18:27)
- Considerations about disclosures related to ESG issues, including investments in sustainability, human capital management, and targets for improvements in any such area. (29:07)
- What audit committees and, by extension, management need to do now in their oversight of ESG disclosures. (30:58)
Economic update (35:14)
- Three structural, long-term changes occurring in the economy and how they challenge boards of directors and audit committees to revisit their assumptions about the direction of the economy. (36:05)
- The possibility of a capital expenditures boom on the other side of an economic slowdown in 2023. (45:30)
- Policy themes that businesses should pay close attention to in 2023. (48:41)
