director resigns, page-116

The Audit Committee shall make regular reports to the Board. The Audit Committee shall at least annually, unless otherwise specified: Amongst other things:

Obtain reports from management, the Company’s senior internal auditing executive and the independent auditor that the Company’s subsidiary/foreign affiliated entities are in conformity with applicable legal requirements and the Company’s Code of Conduct/Ethics, including disclosures of insider and affiliated party transactions.

Review the annual audited financial statements with management, including major issues regarding accounting and auditing principles and practices as well as the adequacy of internal controls that could significantly affect the Company’s financial statements.

Meet periodically with management to review the Company’s major financial risk exposures and the steps management has taken to monitor and control such exposures.

They obviously did a shocking job with the money that went to Pensador. What happened to financial risk exposure here. I think Reid was too busy playing with tennis balls.

And

Approve the fees to be paid to the independent auditor

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