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Assess the Audit Committee’s Role

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Assess the Audit Committee’s Role in Monitoring Compliance with the Company’s Code of Conduct and the Law

Consider whether the audit committee should assume responsibilities in connection with monitoring compliance with the company’s code of ethical conduct (if it has one) and legal compliance, including the following:

- reviewing the company’s code of ethical conduct;

- reviewing reports that summarize the company’s monitoring of compliance

with its code of ethical conduct and legal compliance;

- reviewing the fairness of any proposed material transaction between

management of the company and the company (excluding transactions that

are subject to review by the Compensation Committee of the Board); and

- making recommendations regarding such transactions to the Board;

Review Duties and Performance of Audit Committee

review and reassess at least annually the adequacy of the audit committee’s charter;
review at least quarterly the committee’s intention, and ability, to fulfill all of the duties set forth in the audit committee charter;
review at least annually the audit committee’s performance, including an assessment from the Board of Directors as a whole;

Further reading: Corporate Governance | Audit | Performance Improvement

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Assess the Audit Committee’s Role