Geo. Fayez Habib Gress
Chairman
Audit Committee
Purpose
To assist the Board of Directors in fulfilling its oversight responsibilities for the financial reporting
process, the system of internal control, the audit process, and the company's process for
monitoring compliance with laws and regulations and the code of conduct.
Authority
The audit committee has authority to conduct or authorize investigations into any matters within
its scope of responsibility. It is empowered to:
- Appoint, compensate, and oversee the work of any registered public accounting firm employed by the organization.
- Resolve any disagreements between management and the auditor regarding financial reporting.
- Pre-approve all auditing and non-audit services.
- Retain 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.
- Meet with company officers, external auditors, or outside counsel, as necessary.