Pursuant to the mandate of the Securities and Exchange Commission (SEC) under SEC memo No. 4 series of 2012 ("SEC Guidelines"), the Bogo-Medellin Millin Company, Inc. has adopted an Audit Committee Charter.
The Charter provides clear guidelines on how the Company's Audit Committee performs its oversight functions.
Specifically, the Charter serves as a plan on how the Audit Committee can assist the Board of Directors in the performance of its oversight responsibility on the following: - Accuracy and integrity of the Company's financial statements;
- Compliance with legal and other regulatory requirements;
- External auditors appointment, remuneration and independence;
- Effectiveness of the Company's Internal Control;
- The Company's accounting processes, principles and reporting;
- The Company's audits; and
- Risk Management
The self-assessment of the Audcom's performance shall be made every three (3) years and on intervening years, the Company may choose to evaluate the committee's effectiveness either by means of general discussion around the Audit Committee table.
The Audit Committee shall be assessed based on the questionnaire set on pages 5 to 7 of the SEC Guidelines. - https://www.affordablecebu.com/
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"Bogo-Medellin Millin Company, Inc's Adopts An Audit Committee Charter" was written by Mary under the Business category. It has been read 1182 times and generated 0 comments. The article was created on 12 September 2012 and updated on 12 September 2012.
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