Audit Committee Charter

An audit committee charter is a document that outlines the purpose, composition, and responsibilities of a corporation’s audit committee. The audit committee is a standing committee of the board of directors that is responsible for overseeing the corporation’s financial reporting, internal controls, and risk management processes. The charter typically specifies the qualifications and independence requirements for committee members, as well as the committee’s authority to engage external auditors and advisors. It also sets forth the committee’s specific duties, such as reviewing financial statements, assessing the effectiveness of internal controls, and investigating any allegations of fraud or misconduct. The audit committee charter is an important tool for ensuring the integrity and reliability of the corporation’s financial information, and for promoting effective oversight by the board of directors.