Audit Committee
From FairShares Wiki 3.x
The Audit Committee is defined in Clause/Article 47 (in the section on Accounting, Audit, Dispute Resolution and Intellectual Property). It is elected at a GM when the member threshold set in Articles of Association is reached. It comprises up to four people from at least two shareholder classes and has four duties:
- to assist and check the preparation of financial records presented to General Meetings to ensure they are accurate, authentic and meet the needs of members;
- to assist and check the preparation of information needed for a social audit;
- to organise elections to the Board at the AGM in accordance with Clause/Article 31;
- to record, check and authenticate that the procedures in Clauses/Articles 17 to 27 are being followed when voting takes place in a General Meeting.
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