Expeditors International of Washington (EXPD)

EXPD » Topics » Audit Committee

This excerpt taken from the EXPD DEF 14A filed Mar 20, 2009.

Audit Committee

The Board of Directors has an Audit Committee which consists of Messrs. Casey, Kourkoumelis, Malone, Meisenbach, Wright and Dr. Emmert. Mr. Casey was elected Chairman. Since Mr. Casey is not standing for re-election in 2009, Mr. Wright has been appointed as the Chairman of the Audit Committee as of May 6, 2009. Mr. Casey remains the Chairman until that time. The Board of Directors has determined that Messrs. Casey and Wright are audit committee financial experts as defined by Item 401(h) of Regulation S-K of the Exchange Act. In addition, the Board of Directors has determined that each member of the Audit Committee is independent within the meaning of Rule 4200(a)(15) of the Nasdaq Stock Market Marketplace Rules.

The function of the Audit Committee is set forth in the Audit Committee Charter, which was amended and restated on February 9, 2009 and can be found on the Company’s website at www.investor.expeditors.com. In

 

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general, these responsibilities include meeting with the internal financial and audit staff of the Company and members of the independent registered public accounting firm engaged by the Company to review (i) the scope and findings of the annual audit, (ii) quarterly financial statements, (iii) accounting policies and procedures and the Company’s financial reporting, and (iv) the internal controls employed by the Company. The Audit Committee also recommends to the Board of Directors the independent registered public accounting firm to be selected to audit the Company’s annual financial statements and reviews the fees charged for audits and for any non-audit engagements. The Audit Committee’s findings and recommendations are reported to management and the Board of Directors for appropriate action.

This excerpt taken from the EXPD DEF 14A filed Mar 21, 2008.

Audit Committee

        The Board of Directors has an Audit Committee which consists of Messrs. Casey, Kourkoumelis, Malone, and Meisenbach. Mr. Casey has been elected Chairman and the Board of Directors has determined that he is an audit committee financial expert as defined by Item 401(h) of Regulation S-K of the Exchange Act. In addition, the Board of Directors has determined that each member of the Audit Committee is independent within the meaning of Rule 4200(a)(15) of the Nasdaq Stock Market listing standards.

        The function of the Audit Committee is set forth in the Audit Committee Charter which was published as Appendix A to the 2004 Proxy Statement dated March 31, 2004 and can also be found on the Company's website at www.investor.expeditors.com. In general, these responsibilities include meeting with the internal financial staff of the Company and the independent public accountants engaged by the Company to review (i) the scope and findings of the annual audit, (ii) quarterly financial statements, (iii) accounting policies and procedures and the Company's financial reporting, and (iv) the internal controls employed by the Company. The Audit Committee also recommends to the Board of Directors the independent public accountants to be selected to audit the Company's annual financial statements and reviews the fees charged for audits and for any non-audit engagements. The Audit Committee's findings and recommendations are reported to management and the Board of Directors for appropriate action.

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