Audit committee requirements
Audit committee requirements in the Energy, Power & Commodities sector sit at the intersection of securities law, commodity market oversight, and increasingly, climate-related financial disclosure mandates. The U.S. Securities and Exchange Commission's final rules on climate-related disclosures place new board-level oversight obligations on public energy issuers, while the U.S. Commodity Futures Trading Commission and the Federal Energy Regulatory Commission each carry authority over internal controls and governance structures for registered commodity firms and utilities. Compliance teams are reviewing audit committee charters now, specifically to confirm independence standards and oversight scope cover the disclosure perimeters these rules define.
Watch
- SEC climate disclosure rule: audit committee oversight of Scope 1 and 2 attestation
- FERC Order 890 compliance audit obligations for transmission providers
- Independence standard gaps when audit chairs also sit on commodity risk committees
- NYSE and Nasdaq listing rule updates affecting energy company audit committee composition
Recent material activity in Energy, Power & Commodities
Active monitoring in place across Energy, Power & Commodities. Material developments related to audit committee requirements will appear here as they are published.