audit policy

CHARTER OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS I. AUDIT COMMITTEE PURPOSE The Audit Committee is appointed by the Board of Directors to assist the Board in fulfilling its oversight responsibilities. The Audit Committee’s primary duties and responsibilities are to: • Monitor the integrity of the Company’s financial reporting process and systems of internal controls regarding finance, accounting, and legal compliance. • Monitor the independence and performance of the Company’s independent auditors and internal audit department. • Provide an avenue of communication among the independent auditors, management, the internal audit department, and the Board of Directors. While the Audit Committee has the responsibilities and powers set forth in this Charter, it is the responsibility of management, not the Audit Committee, to plan or conduct audits or to determine that the Company’s financial statements and disclosures are complete and accurate and are in accordance with generally accepted accounting principals and applicable rules and regulations. The Audit Committee has the authority to conduct any investigation appropriate to fulfilling its responsibilities, and it has direct access to the independent auditors as well as anyone in the organization. The Audit Committee has the ability to retain at the Company’s expense, special legal, accounting, or other consultants or experts it deems necessary in the performance of its duties. II ...