Jenner & Block

Client Advisory: Audit Committee Financial Experts

An article discussing the final rules under Section 407 regarding the disclosures required with respect to audit committee financial experts.  Under the final rules a larger universe of people will qualify as "audit committee financial experts" than would have qualified as "financial experts" under the proposed rules.   Reporting companies must make such disclosures beginning with their annual reports for fiscal years ending on or after July 15, 2003 (or, in the case of small businesses, December 15, 2003).