This excerpt taken from the DBLE DEF 14A filed Apr 15, 2008.
The Audit Committee provides assistance to our Board in fulfilling its legal and fiduciary obligations with respect to matters involving the accounting, financial reporting, internal control and compliance functions of the Company. Our Audit Committee employs an independent registered public accounting firm to audit the financial statements of the Company and perform other assigned duties. Further, our Audit Committee provides general oversight with respect to the accounting principles employed in financial reporting and the adequacy of the Companys internal controls. In fulfilling its responsibilities, our Audit Committee may rely on the reports, findings and representations of the Companys auditors, legal counsel, and responsible officers.
Each member of the Audit Committee is financially literate as required by NASDAQ rules. The Audit Committee also includes at least one member, Richard Dole, who was determined by the Board to meet the qualifications of an audit committee financial expert in accordance with SEC rules and to meet the qualifications of financial sophistication in accordance with NASDAQ rules. Stockholders should understand that these designations related to our Audit Committee members experience and understanding with respect to certain accounting and auditing matters do not impose upon any of them any duties, obligations or liabilities that are greater than those generally imposed on a member of the Audit Committee or of the Board.
The Audit Committee met five times during the fiscal year ended December 31, 2007, and all members of the Audit Committee participated in all the meetings, except that Mr. Cohee was unable to attend one of the meetings. The Audit Committee currently consists of Messrs. Dole (Chairman), Balaban and Cohee.
A copy of our Audit Committees report for the 2007 fiscal year can be found on page 4 of this proxy statement.
A copy of our Audit Committee charter can be found on our website at http://www.dble.us/html/charter.htm The Audit Committee reviews and assesses the adequacy of the Audit Committee charter annually.