This excerpt taken from the GMET DEF 14A filed Sep 25, 2007.
Review with the Companys management and the independent auditor the Companys accounting and financial reporting controls. Obtain annually in writing from the independent
auditor their letter as to the adequacy of such controls.
Require that the independent auditor will advise management and the Committee, through its Chair, of any matters identified through the procedures followed for
interim quarterly financial statements that may adversely affect the quality or the acceptability of the quarterly
financial reports. This notification as required under standards for communication with Audit Committees regarding the effect on quality of significant
events, transactions, and changes in accounting estimates, is to be made prior to the related press release or, if not practicable, prior to filing Form 10-Q with the SEC.
Meet with management and the independent auditor to discuss any relevant significant recommendations that the independent auditor may have, particularly those characterized as
material or serious. Typically, such recommendations will be presented by the independent auditor in the form of a Letter of Comments and Recommendations to the Committee. The Committee should review responses of management
to the Letter of Comments and Recommendations from the independent auditor and receive follow-up reports on action taken concerning the aforementioned recommendations.
Discuss with the independent auditor the quality of the Companys financial and accounting personnel. Also elicit the comments of management regarding the responsiveness of the
independent auditor to the Companys needs.
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