Securities Advisory: Audit Committee Financial Expert
4/29/2003
The Securities and Exchange Commission has issued its final rules regarding audit committee financial experts pursuant to Section 407 of the Sarbanes-Oxley Act of 2002, as noted in Mintz Levin's Client Alert dated January 21, 2003, which summarized the final rules. This Advisory presents a more comprehensive exploration of the final rules, which changed significantly from the rules as proposed. As adopted, the rules expand the criteria for qualification as an audit committee financial expert, and thus provide companies with greater flexibility in recruiting candidates qualified to serve in that role.
