The responsibilities of the Audit Committee of the Board include the following:
- Reviews and assesses the Company’s financial reporting practices and procedures;
- Reviews the adequacy and reporting of internal accounting controls and the independence of external auditor from management;
- Recommends the appointment of the external auditor;
- Communicates directly with the external auditor;
- Directly oversees the work of the external auditor;
- Reviews and assesses risk management; and
- Reviews consolidated quarterly and annual financial statements and related communications prior to public disclosure.