The Committee on Capital Markets Regulation (CCMR) today submitted a letter to the Securities and Exchange Commission (SEC) on its audit committee disclosures concept release.
In general, the CCMR supports strong audit committee disclosure requirements. However, the CCMR believes that requiring detailed disclosures regarding communications between the audit committee and an independent auditor could chill such communications. Such a rule would therefore be to the detriment of investors.
The full text of the letter may be read here.