This excerpt taken from the ARBA 10-K filed Jan 28, 2005.
During the fiscal year ended September 30, 2004, the Audit Committee of the Board of Directors (the Audit Committee) held ten meetings and did not act by written consent in lieu of a meeting on any occasion. The Audit Committee reviews, acts on and reports to the Board of Directors with respect to various auditing and accounting matters, including the selection of the Companys independent auditors, the scope of the independent auditors service and annual audit fees to be paid to the Companys independent auditors, the performance of the Companys independent auditors and the accounting practices of the Company. The chair of the Audit Committee is Mr. Monahan, and the other members of the Audit Committee are Messrs. Kashnow and Knowling. The Board of Directors has determined that each member of the Audit Committee is independent as described in applicable Nasdaq listing standards. The Board of Directors has also determined that Mr. Monahan is an audit committee financial expert as described in applicable rules and regulations of the Securities and exchange Commission. A copy of the Audit Committees charter is publicly available on the Companys website at http://www.ariba.com/company/investor_governance.cfm.