Here’s the 4th annual “Audit Committee Transparency Barometer,” jointly issued by the Center for Audit Quality (CAQ) & Audit Analytics. This excerpt from the CAQ’s blog lays out the highlights:

– 37% of S&P 500 companies’ proxy statements present enhanced discussion of the audit committee’s considerations in recommending the appointment of the audit firm, up from 13% in 2014.

– 24% of mid-cap companies show enhanced discussion of the audit committee’s considerations in recommending the appointment of the audit firm (up from 10% in 2014) compared to 17% of small-cap companies (up from 8% in 2014).

– 38% of S&P 500 companies disclose criteria considered when evaluating the audit firm, a jump from 8% in 2014.

– 28% of mid-cap companies disclose criteria considered when evaluating the audit firm (up from 7% in 2014) compared to 27% of small-cap companies (up from 15% in 2014).

The report’s conclusions are consistent with the other studies on audit committee disclosure trends that we’ve blogged about in recent months. Investors want more information from audit committees – and audit committees seem to be responding.

Cannabizfile: “I’m From the Government, & Dave’s Not Here, Man”

California hasn’t always been recognized as a place that goes out of its way to attract new businesses – but this Keith Bishop blog flags a new state initiative trying to make life easier for one particular class of entrepreneur:

California Secretary of State Alex Padilla wants to help entrepreneurs in California by launching a new online business portal. According to Secretary of State’s press release, the new portal, coined “Cannabizfile”, provides useful information about cannabis-related business filings with the Secretary of State’s office. The Secretary of State has even published a public service announcement featuring actor Cheech Marin.

Casting Cheech Marin (of Cheech & Chong fame) in a PSA is inspired & shows a sense of humor that’s almost always lacking in government initiatives. The one disappointing aspect of the Cannabizfile website is that the FAQ section offers no insights into Dave’s whereabouts.

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– John Jenkins