Difference between revisions of "Audit Committee"
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| − | The '''Audit Committee''' is defined in Clause 47 (in the section on [[Accounting, Audit, Dispute Resolution and Intellectual Property]]). It is elected at a GM when the member threshold set in [[Governance|Articles of Association]] is reached. It comprises up to four people from at least two shareholder classes and has four duties: | + | The '''Audit Committee''' is defined in Clause/Article 47 (in the section on [[Accounting, Audit, Dispute Resolution and Intellectual Property]]). It is elected at a GM when the member threshold set in [[Governance|Articles of Association]] is reached. It comprises up to four people from at least two shareholder classes and has four duties: |
# to assist and check the preparation of financial records presented to General Meetings to ensure they are accurate, authentic and meet the needs of members; | # to assist and check the preparation of financial records presented to General Meetings to ensure they are accurate, authentic and meet the needs of members; | ||
# to assist and check the preparation of information needed for a social audit; | # to assist and check the preparation of information needed for a social audit; | ||
| − | # to organise elections to the Board at the AGM in accordance with Clause 31; | + | # to organise elections to the Board at the AGM in accordance with Clause/Article 31; |
| − | # to record, check and authenticate that the procedures in | + | # to record, check and authenticate that the procedures in Clauses/Articles 17 to 27 are being followed when voting takes place in a General Meeting. |
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Return to the [[FairShares Glossary]] | Return to the [[FairShares Glossary]] | ||
Latest revision as of 09:24, 3 February 2021
The Audit Committee is defined in Clause/Article 47 (in the section on Accounting, Audit, Dispute Resolution and Intellectual Property). It is elected at a GM when the member threshold set in Articles of Association is reached. It comprises up to four people from at least two shareholder classes and has four duties:
- to assist and check the preparation of financial records presented to General Meetings to ensure they are accurate, authentic and meet the needs of members;
- to assist and check the preparation of information needed for a social audit;
- to organise elections to the Board at the AGM in accordance with Clause/Article 31;
- to record, check and authenticate that the procedures in Clauses/Articles 17 to 27 are being followed when voting takes place in a General Meeting.
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