TheCorporateCounsel.net

The Society for Corporate Governance & EY recently issued a report addressing the evolution of Disclosure Committees. The report updates their 2021 report, and this excerpt from the press release announcing the issuance of the report highlights some of the key findings:

– 60% of disclosure committees now regularly review cybersecurity risk and governance disclosures and nearly 40% now regularly review human capital disclosures, up from 32% and 13%, respectively, in our 2021 survey, likely reflecting increasing regulatory and stakeholder scrutiny and expectations.

– Nontraditional roles, such as the heads of Risk, Human Resources, and Information Security, are increasingly among the regular members of companies’ disclosure committees.

– Nearly half of respondents involve their disclosure committees in determining whether cyber incidents are material and require Form 8-K disclosure, while the balance look to another individual or group of individuals to make that determination.

For more resources on Disclosure Committees, check out our “Disclosure Committees” Practice Area and our Disclosure Committees Checklist.

– John Jenkins