Partner Beth Diffley was quoted in a Law360 article titled “SEC’s Relaxed Audit Rules Likely To Get Mixed Reviews.” The piece focuses on the SEC’s proposal to amend the accelerated filers definition in order to relieve “certain smaller companies from rules intended to prevent accounting misstatements or fraud.” The article also examined those advocating for or objecting to this proposal.
“This is really targeted at your smaller biotech and health care companies. Because those are the companies that don’t really have revenue, are public and need to raise capital,” said Beth. “The SEC is very clearly trying to balance those competing demands. There will be some interesting comments that come through in the next 60 days. Ultimately, I think something will be adopted.”"