AIXD » Topics » Audit and Financial Reporting

This excerpt taken from the AIXD DEF 14A filed Jul 27, 2007.
Audit and Financial Reporting

 

1.

Review and provide feedback on the registered public accounting firm’s plan and scope for the current year audit.

 

2.

Review results of the annual audit with management and the registered public accounting firm.

 

3.

Review the financial statements and management’s discussion and analysis contained in the annual report to the Company’s stockholders with management and the registered public accounting firm. Report the results of the annual audit to the Board and recommend whether or not the audited financial statements should be included in the Company’s Annual Report on Form 10-KSB.

 

4.

Review with financial management and the registered public accounting firm the significant financial reporting issues and practices, including changes in, or adoptions of, accounting principles and disclosure practices and any off-balance sheet structures.

 

5.

Review with financial management and the registered public accounting firm all alternative treatments of financial information within United States generally accepted accounting principles that have been discussed with management officials of the Company, the ramifications of using such alternative disclosures and treatments and the treatment preferred by the registered public accounting firm. Determine whether the registered public accounting firm is satisfied with the disclosure and content of the financial statements to be presented to the Company’s stockholders.

 

6.

Review other written communications provided by the registered public accounting firm to management, including a schedule of unadjusted audit differences.

 

7.

As a whole, or through the Audit Committee chair, review with the registered public accounting firm the Company’s interim financial results to be included in the Company’s quarterly reports to be filed with the SEC. This review will occur prior to the Company’s filing for the Form 10-QSB.

 

8.

Obtain from the registered public accounting firm a statement of all required communications under United States Generally Accepted Auditing Standards, including matters required by SAS No. 61 and by Independence Standards Board Standard No. 1, “Independence Discussions with Audit Committees.” Confirm the registered public accounting firm’s independence with respect to the Company by actively engaging in dialogue with the auditor with respect to any disclosed relationships or services that may have an impact on the objectivity and independence of the registered public accounting firm.

 

B-2

 


Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki