November 11, 2014

Cybersecurity: Industry Calls for Single Federal Breach Notification Standard

Here’s an excerpt from this blog by Akin Gump’s Francine Friedman:

Yesterday, a coalition of 44 service and retail industry trade associations sent a letter to congressional leadership, urging the House and Senate to adopt a single data breach notification standard at the federal level. The letter, addressed to the Majority and Minority Leaders of each chamber, states that “a single, federal law applying to all breached entities would ensure clear, concise and consistent notices to all affected consumers regardless of where they live or where the breach occurs.”

Meanwhile, the Chamber of Commerce has sent this letter to the SEC seeking to work with the agency’s cybersecurity working group…

Latest CPA-Zicklin Index: More Political Disclosures Being Made

Recently, the Center for Political Accountability published its “2014 CPA-Zicklin Index of Corporate Political Disclosure and Accountability” for the fourth year in a row. The latest shows continued growth of political spending disclosures and more board oversight of the spending. Learn more in this blog I posted yesterday in “The Mentor Blog”…

New SEC Chief Accountant Weighing Switch to IFRS

Here’s an excerpt from this WSJ article:

The Securities and Exchange Commission’s new chief accountant said Thursday he hopes to make a recommendation in the next few months on whether the SEC should move toward switching U.S. companies to using global accounting rules. In his first public comments since taking over as chief accountant a month ago, James Schnurr didn’t tip his hand over whether he favors a U.S. move toward the global rules, known as International Financial Reporting Standards, or IFRS. But “I would hope that within the next few months there would be movement on this,” Mr. Schnurr said on a panel at a Practising Law Institute securities-regulation conference in New York.

Meanwhile, check out this speech by PCAOB Board Member Jay Hanson entitled “The PCAOB and Audit Committees – Common Goals”…

Umm, the title of this SEC guide for small businesses is a bit long, no?

– Broc Romanek