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Risk management
Boards and audit committees continue to face an increasingly challenging risk landscape driven by shifting political dynamics, economic volatility and regulatory shifts.
President Trump’s second-term agenda is already proving to be expansive and has been underpinned by strong executive action early on. Companies are navigating an environment that includes assessing current conditions and responding to emerging regulatory shifts.
Accordingly, audit committees and boards are monitoring a range of policy issues and discussing how the new Washington environment will impact business risks.
Accounting and disclosures
Macroeconomic uncertainty may be elevated in the near-term. Accordingly, audit committees will continue to evaluate evolving impacts of the uncertain economic environment and other shifts in the business landscape on their financial reporting processes.
SEC rulemaking and other regulatory considerations
On his first day in office, President Donald Trump officially nominated Paul Atkins to be Chairman of the Securities and Exchange Commission (SEC) and designated Commissioner Mark Uyeda as Acting SEC Chairman. Expectations are that under Atkins’ leadership, new SEC priorities will include capital formation, establishing a regulatory framework for digital assets, and innovation. Atkins was an SEC commissioner from 2002-2008 and his priorities included principles-based regulation, close consideration of regulatory costs and benefits and lower enforcement penalties for issuers to avoid harming shareholders. In recent years, Atkins has worked closely with the digital assets industry, including leading efforts to develop a best practices guide for digital assets issuances and trading platforms. Both Acting SEC Chairman Uyeda and SEC Commissioner Hester Peirce were counsel to Atkins while he was at the SEC and are expected to be aligned with him on many topics. Though Atkins’s nomination hearing is pending, his confirmation is expected by late March or early April.