To help the Board of Commissioners in fulfilling their duties and responsibilities, an Audit Committee is established. The primary function of this committee is to assist the Board in overseeing the Company’s operations, making it essential to have a Charter that outlines the committee’s role, responsibilities, and authority.
The Audit Committee Charter is created as a framework to ensure that the committee performs its tasks with efficiency, transparency, independence, competence, and accountability. It also ensures that their actions are aligned with relevant laws and regulations, enabling the committee to operate effectively and responsibly.
Audit Committee Charter