Audit committee requirements
Audit committee requirements for Technology, AI and Competition companies are tightening on both sides of the Atlantic, with the U.S. Securities and Exchange Commission and the European Securities and Markets Authority each pressing for more explicit board-level accountability over algorithmic risk, cybersecurity controls, and AI governance disclosures. The SEC's 2023 cybersecurity disclosure rules already require public technology companies to surface material incidents within four business days and describe board oversight competency in annual filings. Compliance teams at AI-adjacent firms are now stress-testing whether their audit committee charters actually satisfy those competency disclosure requirements, not just whether they check the governance box.
Watch
- SEC cybersecurity disclosure rule: board competency language in 10-K filings under scrutiny
- ESMA guidance on audit committee oversight of algorithmic trading systems, pending 2024 review
- FTC proposed rulemaking on AI accountability: does it create implied audit committee duties?
- Nasdaq and NYSE listing standards on audit committee independence when AI vendors hold board seats
Recent material activity in Technology, AI & Competition
Active monitoring in place across Technology, AI & Competition. Material developments related to audit committee requirements will appear here as they are published.