Meeting Agenda

Panel Discussion Regarding Accounting of Non-Traditional Financial Information

The strength and stability of the U.S. capital markets system largely rests on the availability of high-quality, decision-useful information investors rely on to understand and assess a company's business, risks and prospects, to make critical decisions about how and where to direct capital. It is thus critical that this information remain both relevant and reliable. As the sources of value and risk have shifted over the past several decades, investors' informational needs have necessarily evolved.

This panel is structured in two parts. In the first panel, speakers from the Commission and the PCAOB will provide a general overview of the accounting and auditing infrastructure in the U.S. The second panel will feature a trio of experts spanning a wide berth of market participants, and consider whether the accounting and auditing infrastructure is providing investors with the information they need to make informed decisions, and if not, offer their suggestions and strategies to ensure the U.S. capital markets keep pace with these changes and remain the most competitive in the world.

Moderated by:

Cambria Allen-Ratzlaff

Panelists:

• James Andrus, Interim Managing Investment Director, Board Governance &Sustainability, CalPERS
• George Botic, Director, Division of Registration and Inspections, Public Company Accounting Oversight Board (PCAOB)
• Robert H. Herz, CPA, FCA, Board Member, Fannie Mae; and former Chairman of the Financial Accounting Standards Board (FASB)
• Colleen Honigsberg, Associate Professor of Law, Stanford Law School
• Shehzad (Shaz) Niazi, Deputy Chief Counsel, Office of the Chief Accountant, U.S. Securities and Exchange Commission

Panel Discussion Regarding Climate Disclosure

This panel will focus on the SEC’s recent proposal to modify disclosure requirements related to climate change. It will explore the overall context for the proposal and how it compares to the requirements we see in other developed economies. It will also provide an opportunity for accounting experts and investors to comment on the proposal and highlight aspects that they find particularly valuable or concerning.

Moderated by:

Brian Hellmer

Panelists:

• Jonathan Bailey, Head of ESG Investing, Neuberger Berman
• Prof. Shivaram (Shiva) Rajgopal, Roy Bernard Kester and T.W. Byrnes Professor of Accounting and Auditing, Columbia Business School
• Samantha Ross, Founder, AssuranceMark, the Investors’ Consortium for Assurance
• Prof. Cynthia A. Williams, Professor of Law and Osler Chair in Business Law, York University