Multilateral Instrument 52-110 Audit Committees

Rules and Policies 5.1.3 Multilateral Instrument 52-110 Audit Committees MULTILATERAL INSTRUMENT 52-110 AUDIT COMMITTEES Table of Contents PART 1 DEFINITIONS AND APPLICATION 1.1 Definitions 1.2 Application 1.3 Meaning of Affiliated Entity, Subsidiary Entity and Control 1.4 ing of Independence 1.5 Meaning of Financial Literacy PART 2 AUDIT COMMITTEE RESPONSIBILITIES 2.1 Audit Committee 2.2 Relationship with External Auditor 2.3 Audit Committee Responsibilities 2.4 De Minimis Non-Audit Services 2.5 Delegation of Pre-Approval Function 2.6 Pre-Approval Policies and Procedures PART 3 COMPOSITION OF THE AUDIT COMMITTEE 3.1 Composition 3.2 Initial Public Offerings 3.3 Controlled Companies 3.4 Events Outside Control of Member 3.5 Death, Disability or Resignation of Member 3.6 Temporary Exemption for Limited and Exceptional Circumstances 3.7 Majority Independent 3.8 Acquisition of Financial Literacy 3.9 Restriction on Use of Certain Exemptions PART 4 AUTHORITY OF THE AUDIT COMMITTEE 4.1 Authority PART 5 REPORTING OBLIGATIONS 5.1 Required Disclosure 5.2 Management Information Circular PART 6 VENTURE ISSUERS 6.1 Venture Issuers 6.2 Required Disclosure PART 7 U.S. LISTED ISSUERS 7.1 U.S. Listed Issuers PART 8 EXEMPTIONS 8.1 Exemptions PART 9 EFFECTIVE DATE 9.1 Effective Date March 26, 2004 (2004) 27 OSCB 3252 Rules and Policies MULTILATERAL INSTRUMENT 52-110 AUDIT COMMITTEES PART 1 DEFINITIONS ...