Audit Committees Face Significant New Compliance Oversight Pressures
New policy initiatives from the Trump administration, and the turbulence with which they have been introduced, combine to present board audit committees with unexpected new compliance oversight pressures. Every new administration has the right to institute its own policies with respect to legal and regulatory enforcement, and the Trump administration is no different in that […]
Michael W. Peregrine is a Partner and Ashley Hoff is a Counsel at McDermott Will & Emery LLP.
New policy initiatives from the Trump administration, and the turbulence with which they have been introduced, combine to present board audit committees with unexpected new compliance oversight pressures.
Every new administration has the right to institute its own policies with respect to legal and regulatory enforcement, and the Trump administration is no different in that regard. Furthermore, there was a clear sense following the election that the new administration would pursue substantive policy changes in many compliance-oriented areas, including the Department of Justice’s civil and criminal enforcement priorities.
But the scope of this change, and the tempo in which it has been introduced, have been extraordinary. This in turn has created a variety of new challenges for the audit committee, including but not limited to the following:
