This excerpt taken from the KDN DEF 14A filed Apr 16, 2007.
Limitation on Audit Committees Role
While the Committee has the responsibilities and powers set forth in this Charter, management of the Corporation is responsible for the preparation, presentation and integrity of the Corporations financial statements. Management and the internal auditors are responsible for maintaining appropriate accounting and financial reporting principles, policies, internal controls and procedures designed to assure compliance with accounting standards and applicable laws and regulations. The independent auditors are responsible for planning and carrying out proper audits and reviews of the Corporations interim and year-end financial statements. Consequently, it is not the responsibility of the Committee to plan or conduct audits or to determine that the Corporations financial statements are complete, accurate or in compliance with generally accepted accounting principles.