ASM Audit Committee charter SB approved 270704

Article 1. Tasks and powers 1.1 The Audit Committee shall supervise the activities of the Management Board with respect to: a) the operation of the internal risk management and control systems, including supervision of the enforcement of the relevant legislation and regulations, and supervising the operation of codes of conduct; b) the provision of financial information by the Company (choice of accounting policies, application and assessment of the effects of new rules, information about the handling of estimated items in the Annual Accounts, forecasts, work of internal and external auditors, etc.); c) compliance with recommendations and observations of internal and external auditors; d) the policy of the Company on tax planning; e) relations with the External Auditor, including, in particular, his independence, remuneration and any non-audit services for the Company; f) the financing of the Company; g) the applications of information and communication technology (ICT). 1.2 The Audit Committee shall present all material findings and recommendations to the Supervisory Board for consideration 1.3 Consistent with this function, the Audit Committee shall encourage continuous improvement of, and should foster adherence to, the Company’s policies, procedures and practices. The Audit Committee shall also provide an open avenue of communication with the External Auditor, senior finance management and control and ...