Audit committee quarterly update

This update provides a summary of some of the more important first quarter 2023 accounting, financial reporting, and regulatory activities. The content is not meant to be all-inclusive.

Topics include:

• Regulatory update
  • Rules to reduce risks in clearance and settlement
  • Non-GAAP financial measures
  • Financial Reporting Manual (FRM) updates
  • Audit Committee Practices Report: Priorities and committee composition
• Impact of current economic environment
  • SEC chair comments
  • Impact on financial reporting
    • Inflation
    • Interest rates
    • Other factors