The Audit Committee Council (ACC), an independent advisory committee of the Center for Audit Quality, submitted a comment letter to the Securities and Exchange Commission (SEC) in response to its Proposed Rule on Semiannual Reporting, File Number S7-2026-15.
The ACC supports the Commission’s important initiative to foster an environment in which more companies are willing to enter – and remain in – the public markets. For this reason, we support the objective of simplifying the regulatory obligations associated with public company reporting. This is a worthwhile goal while preserving trust and transparency that is foundational to the capital markets.
Key points included in the ACC letter:
- We support the Proposed Rule providing all companies with the option to report on a semiannual basis.
- Our support for the Proposed Rule is grounded in its optionality.
- It is appropriate for a company’s management, along with its audit committee, based on stakeholder outreach, to determine the appropriate frequency of interim financial reporting.
- Regardless of the cadence or the form, financial information provided to the capital markets must continue to be reliable.
Read the full comment letter here.