Audit Committee Charter and Proxy Statement Disclosures

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Audit Committee Charter

Nasdaq and NYSE listed companies are required to have a formal written charter for their audit committees. The audit committee must review and reassess the adequacy of the charter annually. The charter must at a minimum specify the following:

Audit Committee Report for the Proxy Statement

The audit committee is also responsible for the annual preparation of the audit committee report, which must be included in the company’s annual proxy statement to shareholders.

The audit committee report must include the following disclosures:

Other Required Proxy Statement Disclosures

In addition, the company must provide the following disclosures regarding its audit committee and its independent auditors in its proxy statement:

Further reading: Corporate Governance | Audit | Performance Improvement

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