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Risk management
The recent disruptions from the global IT outage in July highlighted the pressing need for developing and stress-testing robust business continuity plans and building resiliency capabilities. We expect that audit committees will spend time discussing these matters and revisiting reliance on critical third parties and suppliers.
Regulatory developments
Meanwhile, audit committees are also closely monitoring Securities and Exchange Commission (SEC) activity and other regulatory developments. While there have been no developments relating to the litigation against the SEC’s climate disclosure rules, audit committees are keeping an eye on those proceedings as well as on how companies will eventually comply with other new and emerging reporting requirements. Read the report.