Audit Committee
From FairShares Wiki 3.x
The Audit Committee is defined in Clause 47 (in the section on Accounting, Audit, Dispute Resolution and Intellectual Property). It is elected at an 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 31;
- to record, check and authenticate that the procedures in clauses 17 to 27 are being followed when voting takes place in a General Meeting.
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