Nasdaq Withdraws Proposal for Full Employment for Auditors, but Stay Tuned

By Cydney Posner

As indicated in this morning's thecorporatecounsel.net blog, Nasdaq has withdrawn its proposal (summarized in my article from March 8, 2013), that would have required listed companies to maintain an internal audit function, comparable to the NYSE requirement. Apparently, there was quite a bit of pushback on the proposal and, as result, Nasdaq withdrew it so that "we may adequately consider these comments." http://nasdaq.cchwallstreet.com/nasdaq/pdf/nasdaq-issalerts/2013/2013-003.pdf

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