In a recent speech, SEC Chief Accountant Wesley Bricker discussed how audit committees can effectively discharge their oversight responsibilities. Among other things, he said it is important for audit committees to understand the financial reporting risks related to implementing new accounting standards, support controls over the disclosure of non-GAAP financial measures, understand changes in the business and operating environments, set a positive tone at the top to support effective internal control over financial reporting, and make sure the committee is not overloaded with responsibilities beyond its core mission.