An effective disclosure committee is an important example of disclosure controls and procedures, as defined by the SEC. However, once a committee is formed and chartered, it is important to ensure that it performs according to the specifications outlined in the charter. An annual assessment of the disclosure committee’s performance against its charter is a prudent step to take to determine whether expectations and policies are being met.
The questions included in this tool can be used to ensure that all necessary quarterly financial reporting disclosures are addressed and that any changes to these disclosures are explained by management.
Risk & Control Matrices - RCMs