GVHR » Topics » Audit Committee Pre-Approval

These excerpts taken from the GVHR 10-K filed Apr 30, 2009.

Audit Committee Pre-Approval

 

The audit committee has established a policy regarding pre-approval of all audit and permissible non-audit services provided by the independent auditor. In accordance with its charter and the Sarbanes-Oxley Act of 2002 (the “Act”), each year the audit committee approves the terms of the independent auditor’s engagement for the following year. This approval requirement is subject to applicable de minimis exceptions allowed by that Act. In making its pre-approval determination, the audit committee is required to consider whether providing the non-audit services is compatible with maintaining the auditors’ independence. The audit committee may delegate this pre-approval authority to one or more audit committee members. However, if the authority is delegated, the member or members to whom the authority is delegated must present a report of their actions at the next scheduled audit committee meeting.

 

Audit Committee Pre-Approval



 



The audit committee has established a policy
regarding pre-approval of all audit and permissible non-audit services provided
by the independent auditor. In accordance with its charter and the
Sarbanes-Oxley Act of 2002 (the “Act”), each year the audit committee approves
the terms of the independent auditor’s engagement for the following year. This
approval requirement is subject to applicable de
minimis
exceptions allowed by that Act. In making its pre-approval
determination, the audit committee is required to consider whether providing
the non-audit services is compatible with maintaining the auditors’
independence. The audit committee may delegate this pre-approval authority to
one or more audit committee members. However, if the authority is delegated,
the member or members to whom the authority is delegated must present a report
of their actions at the next scheduled audit committee meeting.



 



This excerpt taken from the GVHR DEF 14A filed Apr 12, 2007.
Audit Committee Pre-Approval
 
The audit committee has established a policy regarding pre-approval of all audit and permissible non-audit services provided by the independent auditor. In accordance with its charter and the Sarbanes-Oxley Act of 2002, each year, the audit committee approves the terms of the independent auditor’s engagement for the following year. This approval requirement is subject to applicable de minimis exceptions allowed by that Act. In making its pre-approval determination, the audit committee is required to consider whether providing the non-audit services are compatible with maintaining the auditors’ independence. The audit committee may delegate this pre-approval authority to one or more audit committee members. However, if the authority is delegated, the member or members to whom the authority is delegated must present a report of their actions at the next scheduled audit committee meeting.
 
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