Robert Downes and Adam Paris Interviewed by GC Agenda on the Revised Auditor Reporting Standard and Vacancies at FTCJuly 19, 2017
In its July/August 2017 issue, Robert Downes and Adam Paris were interviewed by GC Agenda, which provides “a round-up of major horizon issues for General Counsel.” Robert contributed to the Capital Markets & Corporate Governance section, and Adam contributed to the Antitrust section. The Capital Markets & Corporate Governance section explored the revised auditor reporting standard. “Public companies should consider how the new auditing standard recently adopted by the Public Company Accounting Oversight Board (PCAOB) expanding the existing auditor's report will impact their future audits,” the section said.
The Antitrust section analyzed the current vacancies and uncertainty at the Federal Trade Commission (FTC), where the vacancy of three of the five commissioner positions means that the existing two commissioners, each of whom is a member of a different political party, are limited in what they can accomplish. “Because antitrust enforcement typically involves large areas of bipartisan agreement, the majority of deals will not be affected by any deadlock caused by the vacancies,” the section said. “Nonetheless, the unusual circumstances underscore the need for companies to consult with antitrust counsel.”