WBS » Topics » Practices

This excerpt taken from the WBS DEF 14A filed Mar 20, 2009.

Practices

In carrying out its responsibilities, the Audit Committee will adopt practices which will enable the Committee to best react to changing conditions and to ensure that the corporate accounting and reporting practices, the system of internal controls, and the fiduciary activities conducted are in accordance with all requirements and are of the highest quality.

In performing their duties and responsibilities, Committee members are entitled to rely in good faith on information, opinions, reports or statements prepared or presented by:

 

   

One or more officers or employees of the Corporation whom the Committee member reasonably believes to be reliable and competent in the matters presented;

 

   

Counsel, independent accountants or other persons as to matters which the Committee member reasonably believes to be within the professional or expert competence of such person; or

 

   

Another committee of the Board as to matters within its designated authority which committee the Committee member reasonably believes to merit confidence.

The Audit Committee shall:

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