MVSN » Topics » II. AUTHORITY

This excerpt taken from the MVSN DEF 14A filed Mar 20, 2007.

II.    AUTHORITY

The Committee has the authority to conduct any investigation appropriate to fulfilling its responsibilities including the ability to retain, at the Company’s expense, special legal, accounting or other consultants or experts it deems necessary in the performance of its duties. It is empowered to:

 

   

Appoint, compensate, retain, determine funding for (and be provided funding for) and monitor the continuing independence and performance of the public accounting firm employed by the Company to conduct the annual audit. This external audit firm will report directly to the Committee;

 

   

Resolve any disagreements between management and the auditor regarding financial reporting;

 

   

Pre-approve all audit and permitted non-audit services performed by the Company’s external audit firm;

 

   

Retain and determine funding for (and be provided funding for) independent counsel, accountants, or others to advise the Committee or assist in the conduct of an investigation;

 

   

Seek any information it requires from employees – all of whom are directed to cooperate with the Committee’s requests – or external parties; and

 

   

Meet with the Company’s officers, accounting staff, internal and external auditors, and outside counsel, as necessary.

The Committee may delegate authority to subcommittees, including the authority to pre-approve all audit and permitted non-audit services if so specified in pre-approval policies and procedures adopted by the Committee, provided that such decisions are presented to the full Committee at its next scheduled meeting.

 

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Table of Contents
This excerpt taken from the MVSN 10-K filed Mar 31, 2005.

II.  AUTHORITY

The Committee has the authority to conduct any investigation appropriate to fulfilling its responsibilities including the ability to retain, at the Company’s expense, special legal, accounting or other consultants or experts it deems necessary in the performance of its duties.  It is empowered to:

 

Appoint, compensate, retain, determine funding for (and be provided funding for) and monitor the continuing independence and performance of the public accounting firm employed by the Company to conduct the annual audit.  This external audit firm will report directly to the Committee;

 

 

 

 

Resolve any disagreements between management and the auditor regarding financial reporting;

 

 

 

 

Pre-approve all audit and permitted non-audit services performed by the Company’s external audit firm;

 

 

 

 

Retain and determine funding for (and be provided funding for) independent counsel, accountants, or others to advise the Committee or assist in the conduct of an investigation;

 

 

 

 

Seek any information it requires from employees – all of whom are directed to cooperate with the Committee’s requests – or external parties; and

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Meet with the Company’s officers, accounting staff, internal and external auditors, and outside counsel, as necessary.

The Committee may delegate authority to subcommittees, including the authority to pre-approve all audit and permitted non-audit services if so specified in pre-approval policies and procedures adopted by the Committee, provided that such decisions are presented to the full Committee at its next scheduled meeting.

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