NYSE Proposes Giving Newly Listed Companies Five Years to Build an Internal Audit Function

On July 31, 2026, the New York Stock Exchange (NYSE) proposed a rule change that would give newly listed companies five years, instead of one, to establish the internal audit function required by Section 303A.07(c) of the NYSE Listed Company Manual.

The proposal (SR-NYSE-2026-37) is still under review by the Securities and Exchange Commission (the SEC). If approved, the change would benefit companies listing on the NYSE in connection with an initial public offering (IPO), carve-out or spin-off.

Continue reading on the Cleary Securities, Disclosure, and Governance Watch blog.