“One of my top priorities as Chairman is to restore the @SECGov’s public company disclosure regime to one rooted in materiality. As a disclosure agency and not a merit regulator, the SEC should not use its rules to indirectly regulate matters that should be left to the States. https://t.co/OkmTGkBRhT”
Atkins promotes podcast episode with Chief Accountant Kurt Hohl discussing materiality, AI, and audit oversight
“Great to sit down with Kurt Hohl, the SEC's Chief Accountant. Accounting and auditing underpin investor confidence in the integrity of companies’ disclosures, and consequently, our capital markets at-large. Listen wherever you get your podcasts! https://t.co/ePUazqpMpJ”
Atkins asserts that materiality must be rooted in financial considerations and evaluation of financial returns to qualify.
“Accordingly, information must, at a minimum, facilitate an evaluation of financial returns to qualify as material.”
Atkins says SEC proposed rescinding climate-disclosure rule to return to financial materiality standard.
“Several weeks ago, the Commission proposed to rescind its own climate-disclosure rule and return to financial materiality as the test on what must be disclosed.”
Atkins asserts materiality has always been rooted in financial considerations under Supreme Court definition.
“Or, said another way, materiality, as defined by the Supreme Court, is and has always been a concept inherently rooted in financial considerations.”