TB Main Differences audit committee c

Main differences between current and proposed draft Audit Committee Charters 
1.  Overall re-organization of the charter, to separate out authority, duties, internal
responsibilities, composition and meeting structure. (All pages) 
2.  A more detailed spelling out of the authority of the Audit Committee and its
relationship to the Commission. (Page 1) 
3.  A reworking of language concerning the Internal Audit Manager that reflects her
work with the Audit Committee, and her responsibilities to it. (Page 1-2) 
4.  The inclusion of the report-back function the Audit Committee oversees. (Page 2) 
5.  Clarification of the relationship between the Audit Committee and outside
external auditors, as well as a fuller explanation of what audits they provide.
(Page 2) 
6.  A description of the Audit Committee's review of performance audits. (Page 2) 
7.  A corrected description of the Audit Committee membership. (Page 3) 
8.  A more detailed description of the skills and authority of the public member of the
Audit Committee member. (Page 3) 
9.  A slightly revamped description of meetings. (Page 3-4)

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