|
|
 | | | |
- close
- close
- close
- close
| |||||||||
This excerpt taken from the GENE 20-F filed Dec 28, 2006. Audit Committee The Board has established an Audit Committee, which operates under a charter approved by the Board. It is the Board’s responsibility to ensure that an effective internal control framework exists within the entity. This includes internal controls to deal with both the effectiveness and efficiency of significant business processes, the safeguarding of assets, the maintenance of proper accounting records, and the reliability of financial information as well as non-financial considerations such as the benchmarking of operational key performance indicators. The Board has delegated the responsibility for the establishment and maintenance of a framework of internal control and ethical standards for the management of the consolidated entity to the Audit Committee. The Audit Committee also provides the Board with additional assurance regarding the reliability of financial information for inclusion in the financial reports. The members of the Audit Committee as of the date of this Annual Report were:
On November 17, 2006, Robert Edge, who had previously served as Chairman of the Audit Committee, retired as a Director of the Company. Mr. Dawkins assumed the position of Chairman of the Committee upon Mr. Edge’s retirement. As at the date of this Annual Report, a replacement for Mr. Edge on the Audit Committee is being sought. This excerpt taken from the GENE 6-K filed Sep 19, 2006. Audit Committee The Board has established an Audit Committee which operates under a Charter approved by the Board. It is the Board’s responsibility to ensure that an effective internal control framework exists within the entity. This includes internal controls to deal with both the effectiveness and efficiency of significant business processes, the safeguarding of assets, the maintenance of proper accounting records, and the reliability of financial information as well as non-financial considerations such as the benchmarking of operational key performance indicators. The Board has delegated the responsibility for the establishment and maintenance of a framework of internal control and ethical standards for the management of the Group to the Audit Committee. 15 The Audit Committee also provides the Board with assurance regarding the reliability of financial information for inclusion in the financial reports. All members of the Audit Committee are independent Non-Executive Directors. As at the date of this Report, the members of the Audit Committee were: Mr. Robert J. Edge (Chairman) Mr. Henry Bosch AO Mr. John S. Dawkins AO For details of Directors’ attendances at meetings of the Audit Committee, refer to page 12 of the Directors’ Report. This excerpt taken from the GENE 20-F filed Dec 30, 2005. Audit Committee
The Board has established an Audit Committee, which operates under a charter approved by the Board. It is the Board’s responsibility to ensure that an effective internal control framework exists within the entity. This includes internal controls to deal with both the effectiveness and efficiency of significant business processes, the safeguarding of assets, the maintenance of proper accounting records, and the reliability of financial information as well as non-financial considerations such as the benchmarking of operational key performance indicators. The Board has delegated the responsibility for the establishment and maintenance of a framework of internal control and ethical standards for the management of the consolidated entity to the Audit Committee.
61
The Audit Committee also provides the Board with additional assurance regarding the reliability of financial information for inclusion in the financial reports.
The members of the Audit Committee as of the date of this Annual Report were:
The U.S. Public Company Accounting Reform and Investor Protection Act of 2002, also known as Sarbanes-Oxley Act of 2002, was enacted on July 30, 2002 and contains significant new rules on corporate governance for US and foreign companies reporting in the United States, especially in the area of audit committee composition and authority. We are closely monitoring SEC rulemaking pursuant to the Sarbanes-Oxley Act to ensure our compliance with any rules as they become applicable to us as a foreign private issuer.
| EXCERPTS ON THIS PAGE:
|
| |||||||
