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ABII » Topics » AUTHORITY AND PURPOSE

This excerpt taken from the ABII DEF 14A filed Oct 30, 2009.

AUTHORITY AND PURPOSE

The Audit Committee of Abraxis BioScience, Inc. (the “Corporation”) is appointed by the Corporation’s Board of Directors (the “Board”) to oversee the accounting and financial reporting processes of the Corporation and audits of the financial statements of the Corporation. The Audit Committee (the “Committee”) shall undertake those specific duties and responsibilities listed below and such other duties as the Board shall from time to time prescribe. All powers of the Committee are subject to the restrictions designated in the Corporation’s Bylaws and applicable law.

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