Guest Sharon Posted November 15, 2011 at 02:08 PM Report Share Posted November 15, 2011 at 02:08 PM Our Audit Committee met. The minutes will not be well received by the Board. Therefore, upon motion from the Committee chair to approve, it is likely they will not be approved. I have never encountered this before so could someone guide me through the process? Also, this is the Audit Committee which is somewhat independent of the Board.Thanks. Link to comment Share on other sites More sharing options...
Tim Wynn Posted November 15, 2011 at 02:23 PM Report Share Posted November 15, 2011 at 02:23 PM Our Audit Committee met. The minutes will not be well received by the Board. Therefore, upon motion from the Committee chair to approve, it is likely they will not be approved. I have never encountered this before so could someone guide me through the process? Also, this is the Audit Committee which is somewhat independent of the Board.Thanks.Committees generally don't keep minutes, but if they do, they're not normally presented to a board. It sounds like you're referring to the report of the committee, which would be presented to the body to which the committee reports. In any event, during the consideration of the minutes, the chair calls for corrections, which are handled by majoriy vote when disputed, and when there are no more corrections offered, the chair declares the minutes approved. No vote is taken on approving the minutes. Link to comment Share on other sites More sharing options...
Trina Posted November 15, 2011 at 02:27 PM Report Share Posted November 15, 2011 at 02:27 PM Are you speaking about the formal report of the audit committee? And, is there good reason to believe that the audit committee is actually supposed to report to the board (just wondering, since in many organizations an audit committee would give its report to the annual meeting of the general membership)? Link to comment Share on other sites More sharing options...
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