The document is the amended and restated audit committee charter for Big Lots, Inc. It outlines the responsibilities and composition of the audit committee.
The audit committee is appointed by the board of directors to oversee the financial reporting process and audits. It is responsible for appointing the independent auditor, overseeing their work, and reviewing the company's financial statements, internal controls, and disclosure controls with management and the auditor.
The committee must be comprised of at least three independent directors who are financially literate, with the chair having accounting or financial expertise. The committee is to meet at least quarterly to carry out duties including reviewing the company's quarterly and annual financial reports with management and the auditor.
This document is the Audit Committee Charter of Safeway Inc. that was adopted in 2003 and amended several times after. It outlines the purpose, membership, meetings, and powers and responsibilities of the Audit Committee. The Committee is responsible for overseeing the integrity of Safeway's financial reporting, compliance with legal and regulatory requirements, the independent auditor's qualifications and independence, and internal auditing. It must include at least three financially literate directors, one of whom is a financial expert, and all members must be independent. The Committee directly oversees the independent auditor, pre-approves any audit and non-audit services, and addresses disagreements between management and the auditor.
The Audit Committee Charter establishes the purpose, composition, duties, and responsibilities of the Perini Corporation Audit Committee. The Audit Committee is appointed by the Board of Directors to oversee the integrity of internal controls, financial reporting, and compliance with legal and regulatory requirements. It is also responsible for oversight of both internal and external auditors. The Charter outlines 25 specific duties of the Committee, including reviewing quarterly and annual financial reports, evaluating auditor independence, overseeing internal audits, and reporting regularly to the full Board of Directors.
The Audit Committee Charter establishes the purpose, organization, authority, and responsibilities of the Audit Committee. The Audit Committee is appointed by the Board of Directors to assist with oversight of financial reporting, internal controls, independent audits, and legal/regulatory compliance. The Charter outlines the Committee's processes for interacting with management, internal auditors, and independent auditors. It also addresses the Committee's responsibilities for financial reporting, internal controls, hiring policies, compliance programs, and self-evaluation.
constellation energy Charter of Audit Committeefinance12
The document outlines the charter of the Audit Committee for Constellation Energy Group. It details the committee's membership requirements, meeting procedures, responsibilities, and purpose. The committee is responsible for overseeing the company's financial reporting process, internal controls, risk management, and audits. Its main responsibilities include engaging and overseeing the independent auditor, reviewing quarterly and annual financial statements, discussing accounting policies and internal controls with management and auditors, and overseeing compliance, legal, and risk exposure matters.
goldman sachs Charter (including primary purposes)finance2
The Audit Committee Charter outlines the purpose, membership, structure, and duties of the Audit Committee of The Goldman Sachs Group, Inc. The purpose of the committee is to assist the Board in overseeing the integrity of financial reporting, compliance with legal and regulatory requirements, the qualifications and independence of auditors, internal controls, and risk management. The committee must have at least three independent members with financial literacy and expertise. Key duties include hiring and overseeing independent auditors, reviewing quarterly and annual financial statements, and discussing certifications and reports on internal controls with management.
The document is the charter of the Audit Committee of Terex Corporation's Board of Directors. It outlines the committee's purpose, membership, meetings, responsibilities and authority. The primary function of the committee is to oversee the quality and integrity of the company's accounting, auditing, compliance and reporting practices. The committee is responsible for appointing, compensating and overseeing the independent auditor and monitoring their independence. The committee also oversees the company's financial reporting process, internal controls, risk management and ethics programs.
1) The audit committee is comprised of members designated by the board of directors who meet independence and experience requirements. At least one member must be a financial expert.
2) The audit committee assists the board in overseeing the integrity of financial reporting, compliance with legal and regulatory requirements, the independent auditor's qualifications and independence, and internal audit functions.
3) The audit committee has responsibility for appointing, compensating, and overseeing the independent auditor, approving audit fees, and pre-approving non-audit services. It also oversees the company's internal audit department.
This document outlines the charter of the Audit Committee for The Pantry, Inc. It discusses the purpose, composition, meetings, responsibilities, and specific functions of the Audit Committee. The Audit Committee is appointed by the Board of Directors to assist in overseeing the integrity of financial reporting, compliance with legal and regulatory requirements, and independence of internal and external auditors. Key responsibilities include overseeing the financial reporting process, internal controls, internal audit function, and selection of the independent auditor.
This document is the Audit Committee Charter of Safeway Inc. that was adopted in 2003 and amended several times after. It outlines the purpose, membership, meetings, and powers and responsibilities of the Audit Committee. The Committee is responsible for overseeing the integrity of Safeway's financial reporting, compliance with legal and regulatory requirements, the independent auditor's qualifications and independence, and internal auditing. It must include at least three financially literate directors, one of whom is a financial expert, and all members must be independent. The Committee directly oversees the independent auditor, pre-approves any audit and non-audit services, and addresses disagreements between management and the auditor.
The Audit Committee Charter establishes the purpose, composition, duties, and responsibilities of the Perini Corporation Audit Committee. The Audit Committee is appointed by the Board of Directors to oversee the integrity of internal controls, financial reporting, and compliance with legal and regulatory requirements. It is also responsible for oversight of both internal and external auditors. The Charter outlines 25 specific duties of the Committee, including reviewing quarterly and annual financial reports, evaluating auditor independence, overseeing internal audits, and reporting regularly to the full Board of Directors.
The Audit Committee Charter establishes the purpose, organization, authority, and responsibilities of the Audit Committee. The Audit Committee is appointed by the Board of Directors to assist with oversight of financial reporting, internal controls, independent audits, and legal/regulatory compliance. The Charter outlines the Committee's processes for interacting with management, internal auditors, and independent auditors. It also addresses the Committee's responsibilities for financial reporting, internal controls, hiring policies, compliance programs, and self-evaluation.
constellation energy Charter of Audit Committeefinance12
The document outlines the charter of the Audit Committee for Constellation Energy Group. It details the committee's membership requirements, meeting procedures, responsibilities, and purpose. The committee is responsible for overseeing the company's financial reporting process, internal controls, risk management, and audits. Its main responsibilities include engaging and overseeing the independent auditor, reviewing quarterly and annual financial statements, discussing accounting policies and internal controls with management and auditors, and overseeing compliance, legal, and risk exposure matters.
goldman sachs Charter (including primary purposes)finance2
The Audit Committee Charter outlines the purpose, membership, structure, and duties of the Audit Committee of The Goldman Sachs Group, Inc. The purpose of the committee is to assist the Board in overseeing the integrity of financial reporting, compliance with legal and regulatory requirements, the qualifications and independence of auditors, internal controls, and risk management. The committee must have at least three independent members with financial literacy and expertise. Key duties include hiring and overseeing independent auditors, reviewing quarterly and annual financial statements, and discussing certifications and reports on internal controls with management.
The document is the charter of the Audit Committee of Terex Corporation's Board of Directors. It outlines the committee's purpose, membership, meetings, responsibilities and authority. The primary function of the committee is to oversee the quality and integrity of the company's accounting, auditing, compliance and reporting practices. The committee is responsible for appointing, compensating and overseeing the independent auditor and monitoring their independence. The committee also oversees the company's financial reporting process, internal controls, risk management and ethics programs.
1) The audit committee is comprised of members designated by the board of directors who meet independence and experience requirements. At least one member must be a financial expert.
2) The audit committee assists the board in overseeing the integrity of financial reporting, compliance with legal and regulatory requirements, the independent auditor's qualifications and independence, and internal audit functions.
3) The audit committee has responsibility for appointing, compensating, and overseeing the independent auditor, approving audit fees, and pre-approving non-audit services. It also oversees the company's internal audit department.
This document outlines the charter of the Audit Committee for The Pantry, Inc. It discusses the purpose, composition, meetings, responsibilities, and specific functions of the Audit Committee. The Audit Committee is appointed by the Board of Directors to assist in overseeing the integrity of financial reporting, compliance with legal and regulatory requirements, and independence of internal and external auditors. Key responsibilities include overseeing the financial reporting process, internal controls, internal audit function, and selection of the independent auditor.
The document outlines the Audit Committee Charter for Owens & Minor, Inc. It establishes the purpose, authority, and responsibilities of the Audit Committee, which includes assisting the Board of Directors in oversight of financial reporting, internal controls, compliance, and the independent auditor. The Audit Committee is required to be comprised of at least 3 independent directors who are financially literate, with at least one member being a financial expert. The Charter details the Committee's responsibilities related to financial statements, the independent auditor, internal auditing, legal/ethical compliance, and receiving/investigating complaints.
This document outlines the Audit Committee Charter for Liz Claiborne, Inc. It establishes the role, responsibilities, and composition of the Audit Committee. The Audit Committee is appointed by the Board of Directors to oversee the financial reporting process and audits. It is responsible for retaining, evaluating and overseeing the independent auditors. The Committee must consist of at least three independent directors who are financially literate, with at least one being a financial expert. Key responsibilities include reviewing the auditors' qualifications, independence and performance; approving audit and non-audit services; and overseeing financial reporting, auditing, internal controls and compliance.
The Walgreen Co. Audit Committee Charter establishes the committee to oversee the quality and integrity of financial reporting, compliance with legal requirements, the qualifications and independence of external auditors, and performance of external and internal audits. The committee is comprised of at least three independent directors with financial expertise, and is responsible for appointing external auditors and overseeing relationships with auditors and management to ensure transparency and accuracy of financial reporting.
The document is the charter of the Audit Committee of the Board of Directors of Chico's FAS, Inc. It establishes the purpose, membership, meetings, responsibilities, and limitations of the Audit Committee. The Audit Committee is responsible for overseeing the financial reporting process, internal controls, internal and external audits, and legal/regulatory compliance. It directly appoints, oversees, and interacts with the independent auditors. The Committee also establishes procedures for handling complaints and hiring former employees of the independent auditors. While it provides advice and oversight, the Audit Committee does not conduct audits or certify the work of management or auditors.
enterprise gp holdings Audit, Conflicts & Governance Committeefinance9
The document establishes an Audit, Conflicts and Governance Committee for EPE Holdings, LLC to assist with Board oversight of financial reporting, compliance, auditor independence, and related-party transactions. The Committee is responsible for appointing and overseeing the independent auditor, reviewing financial statements and disclosures, overseeing compliance and legal matters, and assessing risk. However, the Committee's role is oversight and it relies on management and the auditor for accurate financial reporting and audits.
The Audit Committee is responsible for overseeing the integrity of the company's financial reporting, compliance with legal and regulatory requirements, the auditor's qualifications and independence, and the performance of management responsible for preparing financial statements. Key responsibilities include engaging and overseeing the independent auditor, reviewing quarterly and annual financial reports, and ensuring adequate internal controls and procedures are in place. The committee also evaluates risk management, receives legal updates, and conducts self-assessments annually.
The document outlines the charter of the audit committee of Toll Brothers, Inc. It discusses the organization and purpose of the committee, as well as its duties and responsibilities. These include oversight of the independent auditor, reviewing financial reporting and internal controls, and ensuring compliance with legal and regulatory requirements. The committee is also tasked with investigating matters within its scope, reviewing whistleblower procedures, and advising the board on compliance issues. However, the ultimate responsibility for accurate financial reporting lies with management and the independent auditor, not the committee.
The document is a charter that outlines the purpose, composition, responsibilities, and meeting procedures of the Audit Committee of Cisco Systems' Board of Directors. The Audit Committee is responsible for overseeing Cisco's accounting and financial reporting processes, internal controls, and independent audits. Its key duties include reviewing Cisco's financial statements and disclosures, internal controls, independent auditor selection and compensation, and compliance with legal and regulatory requirements. The Committee must have at least three independent directors with financial expertise and will meet at least quarterly with management and auditors.
The audit committee charter outlines the purpose, membership, responsibilities and powers of the audit committee of Royal Gold, Inc. The audit committee is responsible for overseeing the company's accounting and financial reporting processes, audits, internal controls, and legal and regulatory compliance. Key responsibilities include engaging independent auditors, reviewing financial statements and disclosures, overseeing internal controls and financial risk management, and addressing accounting complaints. The charter provides the audit committee with access to funding and advisors to properly carry out its oversight duties.
The Audit Committee Charter establishes the purpose, composition, meetings, oversight areas, and responsibilities of the Audit Committee of Integrys Energy Group's Board of Directors. The Committee assists the Board in overseeing financial reporting, compliance, internal controls, risk management, and the independent auditor relationship. Key responsibilities include selecting and overseeing the independent auditor, reviewing financial statements and disclosures, and establishing procedures for complaints and anonymous submissions regarding accounting or auditing matters.
The Audit Committee Charter establishes the purpose, responsibilities, and procedures of the Audit Committee of Reliance Steel & Aluminum Co.'s Board of Directors. The Audit Committee is responsible for overseeing the company's financial reporting process, accounting and financial controls, internal audit function, and independent auditor. It must have at least three financially literate members, one of whom is a financial expert, and all of whom meet independence requirements. The Charter outlines the Committee's duties related to financial reporting, the independent auditor, internal auditing, complaints, and self-evaluation.
The document outlines the charter of the Audit Committee of NVR, Inc. It details the purpose, structure, duties, and responsibilities of the Audit Committee. The Audit Committee is responsible for overseeing the financial reporting process, internal controls, independent auditors, and compliance with legal and regulatory requirements. It must have at least four independent directors, one of whom must qualify as a financial expert. The Audit Committee meets quarterly and is responsible for appointing, compensating, and overseeing the independent auditors.
dana holdings AuditCommitteeCharter_013108finance42
The Audit Committee Charter establishes the purpose, composition, and duties of Dana Holding Corporation's Audit Committee. The Audit Committee is responsible for overseeing the company's financial reporting and audit process. It is tasked with retaining independent auditors, overseeing their work, and reviewing Dana Holding's financial statements, disclosure controls and procedures, and risk management practices. The Committee is also responsible for establishing procedures for complaints regarding financial reporting or accounting policies.
An audit report for a limited company summarizes the auditor's opinion on the company's financial statements. The opinion will be either unmodified or modified. A modified opinion can be adverse, qualified, or a disclaimer. The report also communicates the auditor's responsibilities, management's responsibilities, and whether the financial statements comply with applicable standards and regulations. Key financial statements like the income statement, balance sheet, and cash flow statement are audited.
The Audit Committee is responsible for overseeing the Company's financial reporting process and audits. It appoints the independent auditors, oversees their work, and reviews the Company's quarterly and annual financial statements. The Committee also oversees the Company's internal audit function and risk management practices. It is composed of at least three independent directors and has authority to retain outside advisors to assist in its duties.
The Audit and Finance Committee Charter establishes the purpose, composition, and responsibilities of the Audit and Finance Committee of Quest Diagnostics Incorporated. The primary purpose of the committee is to oversee the quality and integrity of the company's financial reporting, compliance with legal and regulatory requirements, the independence and performance of the independent auditor, and the performance of the internal audit function. The committee is responsible for appointing, overseeing, and evaluating the independent auditor. It is also responsible for reviewing the company's financial statements, accounting policies, internal controls, compliance, and financial policies and actions. The committee has the authority to retain outside advisors as needed to fulfill its duties of oversight over the company's financial reporting and auditing.
This document is the 2001 annual report for Big Lots, Inc. It provides an introduction and letter to shareholders. It also includes financial highlights such as net sales increasing 4.8% to $3.4 billion, income from continuing operations of $30 million (down 69.3%), and earnings per share of $0.26 (down 70.1%). The company operates 1,335 stores across 45 states and had over 40,000 employees. Big Lots focuses on providing brand-name closeout merchandise at discounted prices of 20-40% below most retailers.
The document is FMC Technologies' 2007 annual report. It summarizes FMC's strong financial performance in 2007, with record revenue of $4.6 billion and earnings per share of $2.30. Key highlights included deploying subsea separation technology for the first time, receiving the largest subsea order in company history, and announcing plans to spin-off the FoodTech and Airport Systems businesses. The report also discusses trends in the oil and gas industry that are driving increased demand for FMC's subsea technologies and systems.
The document is the annual report for United Stationers Inc. for the year 2001. It summarizes that 2001 was a challenging year with declining sales and earnings due to macroeconomic factors including a recession and the 9/11 terrorist attacks. United Stationers restructured its operations, cutting costs and consolidating business units. Despite the difficulties, the company generated $200 million in operating cash flow, reduced debt levels, and continued its stock repurchase program.
This document is Toll Brothers' Form 10-Q/A filed with the SEC, which provides quarterly financial results and other information. It summarizes that for the quarter ended July 31, 2002, Toll Brothers reported housing and land sales revenues of $577.8 million, net income of $53.5 million, and basic earnings per share of $0.76. It also discloses total assets of $2.77 billion and total liabilities of $1.71 billion as of the end of the reported quarter.
The document outlines the Audit Committee Charter for Owens & Minor, Inc. It establishes the purpose, authority, and responsibilities of the Audit Committee, which includes assisting the Board of Directors in oversight of financial reporting, internal controls, compliance, and the independent auditor. The Audit Committee is required to be comprised of at least 3 independent directors who are financially literate, with at least one member being a financial expert. The Charter details the Committee's responsibilities related to financial statements, the independent auditor, internal auditing, legal/ethical compliance, and receiving/investigating complaints.
This document outlines the Audit Committee Charter for Liz Claiborne, Inc. It establishes the role, responsibilities, and composition of the Audit Committee. The Audit Committee is appointed by the Board of Directors to oversee the financial reporting process and audits. It is responsible for retaining, evaluating and overseeing the independent auditors. The Committee must consist of at least three independent directors who are financially literate, with at least one being a financial expert. Key responsibilities include reviewing the auditors' qualifications, independence and performance; approving audit and non-audit services; and overseeing financial reporting, auditing, internal controls and compliance.
The Walgreen Co. Audit Committee Charter establishes the committee to oversee the quality and integrity of financial reporting, compliance with legal requirements, the qualifications and independence of external auditors, and performance of external and internal audits. The committee is comprised of at least three independent directors with financial expertise, and is responsible for appointing external auditors and overseeing relationships with auditors and management to ensure transparency and accuracy of financial reporting.
The document is the charter of the Audit Committee of the Board of Directors of Chico's FAS, Inc. It establishes the purpose, membership, meetings, responsibilities, and limitations of the Audit Committee. The Audit Committee is responsible for overseeing the financial reporting process, internal controls, internal and external audits, and legal/regulatory compliance. It directly appoints, oversees, and interacts with the independent auditors. The Committee also establishes procedures for handling complaints and hiring former employees of the independent auditors. While it provides advice and oversight, the Audit Committee does not conduct audits or certify the work of management or auditors.
enterprise gp holdings Audit, Conflicts & Governance Committeefinance9
The document establishes an Audit, Conflicts and Governance Committee for EPE Holdings, LLC to assist with Board oversight of financial reporting, compliance, auditor independence, and related-party transactions. The Committee is responsible for appointing and overseeing the independent auditor, reviewing financial statements and disclosures, overseeing compliance and legal matters, and assessing risk. However, the Committee's role is oversight and it relies on management and the auditor for accurate financial reporting and audits.
The Audit Committee is responsible for overseeing the integrity of the company's financial reporting, compliance with legal and regulatory requirements, the auditor's qualifications and independence, and the performance of management responsible for preparing financial statements. Key responsibilities include engaging and overseeing the independent auditor, reviewing quarterly and annual financial reports, and ensuring adequate internal controls and procedures are in place. The committee also evaluates risk management, receives legal updates, and conducts self-assessments annually.
The document outlines the charter of the audit committee of Toll Brothers, Inc. It discusses the organization and purpose of the committee, as well as its duties and responsibilities. These include oversight of the independent auditor, reviewing financial reporting and internal controls, and ensuring compliance with legal and regulatory requirements. The committee is also tasked with investigating matters within its scope, reviewing whistleblower procedures, and advising the board on compliance issues. However, the ultimate responsibility for accurate financial reporting lies with management and the independent auditor, not the committee.
The document is a charter that outlines the purpose, composition, responsibilities, and meeting procedures of the Audit Committee of Cisco Systems' Board of Directors. The Audit Committee is responsible for overseeing Cisco's accounting and financial reporting processes, internal controls, and independent audits. Its key duties include reviewing Cisco's financial statements and disclosures, internal controls, independent auditor selection and compensation, and compliance with legal and regulatory requirements. The Committee must have at least three independent directors with financial expertise and will meet at least quarterly with management and auditors.
The audit committee charter outlines the purpose, membership, responsibilities and powers of the audit committee of Royal Gold, Inc. The audit committee is responsible for overseeing the company's accounting and financial reporting processes, audits, internal controls, and legal and regulatory compliance. Key responsibilities include engaging independent auditors, reviewing financial statements and disclosures, overseeing internal controls and financial risk management, and addressing accounting complaints. The charter provides the audit committee with access to funding and advisors to properly carry out its oversight duties.
The Audit Committee Charter establishes the purpose, composition, meetings, oversight areas, and responsibilities of the Audit Committee of Integrys Energy Group's Board of Directors. The Committee assists the Board in overseeing financial reporting, compliance, internal controls, risk management, and the independent auditor relationship. Key responsibilities include selecting and overseeing the independent auditor, reviewing financial statements and disclosures, and establishing procedures for complaints and anonymous submissions regarding accounting or auditing matters.
The Audit Committee Charter establishes the purpose, responsibilities, and procedures of the Audit Committee of Reliance Steel & Aluminum Co.'s Board of Directors. The Audit Committee is responsible for overseeing the company's financial reporting process, accounting and financial controls, internal audit function, and independent auditor. It must have at least three financially literate members, one of whom is a financial expert, and all of whom meet independence requirements. The Charter outlines the Committee's duties related to financial reporting, the independent auditor, internal auditing, complaints, and self-evaluation.
The document outlines the charter of the Audit Committee of NVR, Inc. It details the purpose, structure, duties, and responsibilities of the Audit Committee. The Audit Committee is responsible for overseeing the financial reporting process, internal controls, independent auditors, and compliance with legal and regulatory requirements. It must have at least four independent directors, one of whom must qualify as a financial expert. The Audit Committee meets quarterly and is responsible for appointing, compensating, and overseeing the independent auditors.
dana holdings AuditCommitteeCharter_013108finance42
The Audit Committee Charter establishes the purpose, composition, and duties of Dana Holding Corporation's Audit Committee. The Audit Committee is responsible for overseeing the company's financial reporting and audit process. It is tasked with retaining independent auditors, overseeing their work, and reviewing Dana Holding's financial statements, disclosure controls and procedures, and risk management practices. The Committee is also responsible for establishing procedures for complaints regarding financial reporting or accounting policies.
An audit report for a limited company summarizes the auditor's opinion on the company's financial statements. The opinion will be either unmodified or modified. A modified opinion can be adverse, qualified, or a disclaimer. The report also communicates the auditor's responsibilities, management's responsibilities, and whether the financial statements comply with applicable standards and regulations. Key financial statements like the income statement, balance sheet, and cash flow statement are audited.
The Audit Committee is responsible for overseeing the Company's financial reporting process and audits. It appoints the independent auditors, oversees their work, and reviews the Company's quarterly and annual financial statements. The Committee also oversees the Company's internal audit function and risk management practices. It is composed of at least three independent directors and has authority to retain outside advisors to assist in its duties.
The Audit and Finance Committee Charter establishes the purpose, composition, and responsibilities of the Audit and Finance Committee of Quest Diagnostics Incorporated. The primary purpose of the committee is to oversee the quality and integrity of the company's financial reporting, compliance with legal and regulatory requirements, the independence and performance of the independent auditor, and the performance of the internal audit function. The committee is responsible for appointing, overseeing, and evaluating the independent auditor. It is also responsible for reviewing the company's financial statements, accounting policies, internal controls, compliance, and financial policies and actions. The committee has the authority to retain outside advisors as needed to fulfill its duties of oversight over the company's financial reporting and auditing.
This document is the 2001 annual report for Big Lots, Inc. It provides an introduction and letter to shareholders. It also includes financial highlights such as net sales increasing 4.8% to $3.4 billion, income from continuing operations of $30 million (down 69.3%), and earnings per share of $0.26 (down 70.1%). The company operates 1,335 stores across 45 states and had over 40,000 employees. Big Lots focuses on providing brand-name closeout merchandise at discounted prices of 20-40% below most retailers.
The document is FMC Technologies' 2007 annual report. It summarizes FMC's strong financial performance in 2007, with record revenue of $4.6 billion and earnings per share of $2.30. Key highlights included deploying subsea separation technology for the first time, receiving the largest subsea order in company history, and announcing plans to spin-off the FoodTech and Airport Systems businesses. The report also discusses trends in the oil and gas industry that are driving increased demand for FMC's subsea technologies and systems.
The document is the annual report for United Stationers Inc. for the year 2001. It summarizes that 2001 was a challenging year with declining sales and earnings due to macroeconomic factors including a recession and the 9/11 terrorist attacks. United Stationers restructured its operations, cutting costs and consolidating business units. Despite the difficulties, the company generated $200 million in operating cash flow, reduced debt levels, and continued its stock repurchase program.
This document is Toll Brothers' Form 10-Q/A filed with the SEC, which provides quarterly financial results and other information. It summarizes that for the quarter ended July 31, 2002, Toll Brothers reported housing and land sales revenues of $577.8 million, net income of $53.5 million, and basic earnings per share of $0.76. It also discloses total assets of $2.77 billion and total liabilities of $1.71 billion as of the end of the reported quarter.
The 2008 annual report summarizes Toll Brothers' financial performance for the fiscal year ending October 31, 2008. Some key highlights include revenues of $931.9 million and $878.6 million in the North and Mid-Atlantic regions respectively. Contracts totaled $412.8 million and backlog was $562.5 million at year-end. Toll Brothers controls over 39,800 home sites and has delivered over 35,000 homes in the past 5 years.
This 2004 annual report summarizes Toll Brothers' excellent financial performance in fiscal year 2004, with record levels of net income, revenues, sales contracts, and backlog. It also outlines Toll Brothers' strategy of focusing on the luxury home market, its strong national land position, and growth opportunities. The report expresses confidence that demand for luxury homes will remain strong due to favorable demographic trends, and that Toll Brothers is well positioned for continued growth and market share gains.
This 2007 annual report summarizes the financial performance of The Vaquero company. It shows that over the period of 1986 to 2007, the company's total revenues and contracts increased from under $2,000 million to over $6,000 million and $4,000 million respectively. The company's net income and stockholders' equity also grew over this period from under $250 million to over $750 million and from under $1,100 million to over $3,300 million respectively. The report also provides an overview of the company's operations, including its focus on luxury homes and integrated land and building programs across four US regions.
This annual report summarizes FMC Technologies' financial and operational performance in 2002, their first full year as an independent company.
Key highlights include:
- Earnings before accounting changes increased to $0.96 per share, and revenues grew to $2.07 billion.
- Order backlog increased to $1.15 billion, up from $960.7 million the prior year.
- Energy Systems sales and earnings improved due to strong demand for subsea systems, partially offsetting declines in other product lines.
- The company paid down $97 million in debt since 2001 and eliminated $33 million in lease obligations.
- FMC Technologies' stock price increased over 24% from the time of their
- Toll Brothers is a homebuilder that designs and constructs single family homes across 20 states in the United States, catering to middle and upper income buyers.
- As of October 31, 2000, Toll Brothers had over 14,700 home sites for sale across 146 communities and controlled another 15,600 potential home sites across 121 future communities.
- In fiscal year 2000, Toll Brothers delivered 3,945 homes across 188 communities, generating $1.76 billion in home sales.
United Stationers Inc. saw modest growth in 2003 despite challenges in the economy. The company focused on becoming a better partner to manufacturers and resellers through initiatives like category management, waste reduction, and making business easier for customers. United Stationers aims to accelerate growth, improve margins, and ensure it offers the right products and services through these strategic changes. The company expects its focus on high-performance teams, talent development, and strengthening relationships will position it for continued financial improvement and 6-9% annual sales growth going forward.
The document outlines the corporate governance guidelines of Perini Corporation. It discusses (1) the composition and responsibilities of the Board of Directors, including director qualifications and independence, (2) the roles and responsibilities of Board committees, and (3) policies regarding Board performance evaluation, director orientation, management succession planning, and the company's code of business conduct. The guidelines are intended to assist the Board in exercising its duties to stakeholders.
Big Lots is a Fortune 500 company headquartered in Columbus, Ohio operating over 1,500 stores nationwide including furniture stores. For over 30 years, Big Lots has offered closeout merchandise at discounted prices on average 20-40% less than traditional retailers. In 2004, Big Lots reported $4.4 billion in net sales, a 4.8% increase over the previous year, with net income of $30.4 million, though this was a 64.3% decrease from 2003 due to one-time charges. Big Lots operates stores across the US and aims to provide customers with great deals on furniture, home goods, and other items.
The 2006 annual report summarizes the company's financial performance for 2006. Total revenues increased significantly to $3.042 billion in 2006 from $1.733 billion in 2005. Net income also increased substantially to $41.536 million in 2006 from $4.049 million in 2005. Backlog reached a record high of $8.451 billion at the end of 2006, up from $7.898 billion in 2005. The building segment was a major contributor to revenue and profit growth.
This document summarizes financial statistics for Toll Brothers, Inc., a home construction company, from 1997 to 2008. Over this period, the number of selling communities increased from 116 to 300 then decreased to 273 by 2008. Total sales agreements signed peaked at 10,372 in 2005 and fell to 2,927 by 2008. Profits margins, such as operating margin and pretax margin, were highest in the mid 2000s but turned negative by 2008, reflecting challenging economic conditions.
The document provides an overview of Perini Corporation's operations and destinations between 2007-2008. It describes three itineraries focusing on the company's building, civil, and management services operations. The building operations itinerary highlights projects on the East Coast, in Florida, Arizona, Nevada, and California. The civil construction itinerary focuses on projects in the Northeast and Mid-Atlantic states. The management services itinerary describes work in Europe and Iraq. Photos and details are provided for several building projects.
The Audit and Compliance Committee Charter outlines the purpose, composition, authority, and specific duties of the Committee. The primary purpose is to oversee Starbucks' accounting, financial reporting, audit processes, and compliance with business conduct policies. The Committee is responsible for appointing and overseeing the independent auditors, reviewing financial reporting and disclosures, monitoring internal controls and compliance, and addressing accounting complaints. It must include at least three financially literate independent directors, meet at least six times per year, and report annually to shareholders.
The document is the charter of the Audit Committee of Terex Corporation's Board of Directors, dated May 14, 2008. It establishes the purpose, membership, meetings, responsibilities, and relationship to the independent auditor of the Audit Committee. The Committee is responsible for oversight of accounting, auditing, regulatory compliance, related party transactions, and preparation of required audit committee reports. It must have at least three independent directors, one of whom is a financial expert, and meets at least quarterly with management and the independent auditor.
This document outlines the charter of the Audit Committee for The Pantry, Inc. It discusses the purpose, composition, meetings, responsibilities, and specific functions of the Audit Committee. The Audit Committee is appointed by the Board of Directors to assist in overseeing the integrity of financial reporting, compliance with legal and regulatory requirements, and independence of internal and external auditors. Key responsibilities include overseeing the financial reporting process, internal controls, internal audit function, and selection of the independent auditor.
The Audit Committee is responsible for overseeing the Company's financial reporting process and audits. It appoints the independent auditors, oversees their work, and reviews the Company's quarterly and annual financial statements. The Committee also oversees the Company's internal audit function and risk management practices. It is composed of at least three independent directors and has authority to retain outside advisors to assist in its duties.
The document outlines the Audit Committee Charter for Owens & Minor, Inc. It establishes the purpose, authority, and responsibilities of the Audit Committee, which includes assisting the Board of Directors in oversight of financial reporting, internal controls, compliance, and the independent auditor. The Audit Committee is required to be comprised of at least 3 independent directors who are financially literate, with at least one member being a financial expert. The Charter provides that the Audit Committee will meet regularly with management and the independent auditor to review the company's financial reporting, accounting policies, internal controls, legal/regulatory compliance, and auditing matters.
The Audit Committee Charter establishes the purpose, composition, duties, and responsibilities of the Perini Corporation Audit Committee. The Audit Committee is appointed by the Board of Directors to oversee the integrity of internal controls, financial reporting, and compliance with legal and regulatory requirements. It is also responsible for oversight of both internal and external auditors. The Charter outlines 25 specific duties of the Committee, including reviewing quarterly and annual financial reports, evaluating auditor independence, overseeing internal audits, and reporting regularly to the full Board of Directors.
The Audit Committee Charter establishes the purpose, membership, structure, and responsibilities of the Audit Committee of Ingram Micro Inc. The purpose is to oversee the integrity of financial reporting, compliance with legal and regulatory requirements, and the independence and performance of the independent auditors and internal audit department. The Committee must have at least three independent directors with financial literacy. It will meet at least four times per year and report annually to the full Board. Key responsibilities include reviewing financial statements and disclosures, risk management, auditor appointment and compensation, and overseeing the internal audit department.
The Audit Committee Charter establishes the purpose, organization, authority, and responsibilities of Entergy Corporation's Audit Committee. The Audit Committee assists the Board of Directors in overseeing Entergy's financial reporting, compliance, internal controls, independent auditors, and internal audit function. Key responsibilities include recommending the inclusion of audited financial statements in SEC filings, advising on compliance policies, appointing and overseeing independent auditors, and reviewing internal audit activities and risk exposures. The Charter also addresses the Committee's authority, composition requirements, meeting procedures, and annual self-assessment.
The Audit Committee Charter establishes the purpose, composition, operations, authority, and duties of the CBS Corporation Audit Committee. The Audit Committee is responsible for overseeing the accounting and financial reporting processes as well as audits of the company's financial statements. It assists the Board's oversight of financial reporting quality/integrity, internal controls, legal/regulatory compliance, auditor qualifications/independence, and internal audit/independent auditor performance.
The document outlines the roles and responsibilities of an audit committee according to various regulatory frameworks. The audit committee is responsible for ensuring proper corporate governance, financial reporting, internal controls, and transparency. It monitors the accounting and auditing processes, evaluates the independence and performance of external auditors, and oversees financial risk management and compliance. The committee also reviews related party transactions, whistleblower reports, and the work of internal and external auditors. It is tasked with preparing reports for the board of directors and making recommendations regarding auditors and internal controls.
The Audit Committee Charter establishes the purpose, authority, and responsibilities of the Audit Committee of Sunoco, Inc. The Committee is responsible for overseeing the integrity of the company's financial reporting, independent auditor relationship, internal controls, and compliance with legal and ethics requirements. It consists of at least 3 independent directors who are financially literate. The Committee directly oversees the independent auditor and internal audit functions. Key responsibilities include reviewing financial reports, auditor independence, significant accounting policies, internal controls, risk management, and investigations.
The Audit Committee Charter of General Motors Corporation outlines the purpose, membership, meetings, and responsibilities of the Audit Committee. The purpose is to oversee the integrity of GM's financial reporting, compliance with legal and regulatory requirements, and performance of internal and external auditors. The Committee must have at least three independent directors, two of whom are financial experts. Key responsibilities include reviewing quarterly and annual financial statements, critical accounting policies, internal controls, the external auditors' performance and independence, legal and ethics compliance programs, and risk assessment.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive functioning. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive function. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
The Sarbanes-Oxley Act of 2002 aimed to protect investors by improving corporate disclosure and financial reporting. It established the Public Company Accounting Oversight Board to regulate auditing firms and audit quality. It also prohibited auditors from providing non-audit services, required lead auditors to rotate every 5 years, and mandated that companies have independent audit committees responsible for overseeing audits. Additionally, the Act required CEOs and CFOs to certify financial reports and mandated internal controls and procedures for reporting accounting irregularities.
The document outlines the Compensation Committee Charter for Terex Corporation. It establishes the purpose, membership, responsibilities and authority of the Compensation Committee. The Committee is responsible for approving and evaluating executive compensation plans, reviewing and determining CEO compensation, overseeing regulatory compliance regarding compensation, and reporting on executive compensation for the annual proxy statement. It must include at least three independent directors, one also serving as Chairman of the Governance Committee. The Committee will meet at least quarterly.
The document outlines the Compensation Committee Charter for Terex Corporation. It establishes the purpose, membership, responsibilities and authority of the Compensation Committee. The Committee is responsible for approving and evaluating executive compensation plans, reviewing and determining CEO compensation, overseeing regulatory compliance regarding compensation, and reporting on executive compensation in the company's proxy statement. It must meet at least quarterly and work with other Board committees on compensation and management evaluation matters.
The document outlines the charter of the Audit Committee of the Board of Directors of Amira Nature Foods Ltd. It discusses the purpose, membership requirements, meetings, procedures, and responsibilities of the Audit Committee. The Audit Committee is responsible for overseeing the company's accounting and financial reporting processes, internal controls, compliance with legal and regulatory requirements, and the independent auditor's qualifications and performance. It must have at least three independent members who are financially literate. The Committee oversees the relationship with the independent auditor, reviews financial statements and disclosures, and monitors the internal control and compliance functions.
The interim report summarizes the company's financial performance in the first half of 2008. Key points include record profitability with an operating margin of 16.6% and net margin of 12.1%. Vehicle and service sales grew 15% and 30% respectively. Earnings per share increased 36% to SEK 12.52. The outlook predicts earnings in 2008 will be higher than 2007 due to continued strong demand outside of Europe.
1) Scania reported record earnings in the first half of 2008, with operating margin reaching 16.6% and net margin at 12.1%.
2) Scania is pursuing profitable growth through increasing vehicle and service sales. Revenue grew 15% while EBIT grew 30% in the first half of 2008.
3) Scania's vision is to reach annual production of 150,000 vehicles while maintaining a flexible cost structure and focus on customer productivity and uptime.
The interim report summarizes the company's performance in the first three quarters of 2008. Key highlights include operating margins reaching an all-time high of 15.8% and EBIT growth of 25%. Revenue and profitability increased due to higher vehicle and service volumes, price increases, and favorable product mix. However, order bookings for trucks have declined 51% in Western Europe and 34% in Central and Eastern Europe. While flexible production has helped, earnings forecasts for 2009 are not provided due to economic uncertainty. The service business continues growing with increased traffic and workshop utilization.
HQ Bank has experienced volume driven growth in its credit portfolio over the past 9 months of 2008. While the portfolio increased 8% in local currencies, bad debt provisions increased in several markets. The bank has a well balanced portfolio that is diversified across exposure levels, geographic areas, and products. It maintains a conservative refinancing policy and manages risks through matched funding and credit risk management.
1) Scania reported all-time high earnings in 2008 with operating income of SEK 12,512 million. However, deliveries declined 18% in Q4 as the company adjusted production rates due to decreased demand in Europe.
2) While the trucks and services segment grew profits through price increases, this was partially offset by negative impacts from lower deliveries, used vehicles, raw materials, and R&D spending.
3) Scania's flexible production system and focus on reducing inventory and postponing investments helped cash flow, but tied up capital increased with capacity investments. Outlook remains uncertain given rapid demand fall in Q4 2008 and high industry inventory levels.
The interim report summarizes the company's performance in the first three quarters of 2008. Key highlights include operating margins reaching an all-time high of 15.8% and EBIT growth of 25%. Vehicle deliveries increased 4% while service revenue grew due to the large installed base of vehicles. The outlook acknowledges earnings will be higher in 2008 than 2007 but provides no forecast for 2009 due to uncertainty.
- Scania's operating margin and net margin increased in the first nine months of 2008 compared to the same period in 2007. Net sales rose 11% while order bookings declined 29% due to lower demand in Europe.
- Earnings per share increased and the forecast for higher full-year 2008 earnings remains unchanged. However, due to lower order bookings and higher inventories, Scania will adjust production rates.
- Service revenue continued to show strong growth of 8%, while trucks deliveries increased 4% and various restructuring efforts are expected to generate annual cost savings of SEK 300 million from 2009.
1) Scania reported all-time high earnings in 2008 with operating income of SEK 12,512 million. However, deliveries declined 18% in Q4 as the company adjusted production rates due to decreased demand in Europe.
2) While the trucks and services segment grew profits through price increases, this was partially offset by negative impacts from lower deliveries, used vehicles, raw materials, and R&D spending.
3) Scania's flexible production system and focus on reducing inventory and postponing investments helped cash flow, but tied up capital increased with capacity investments. Outlook for 2009 is uncertain due to rapid demand fall in Q4 and high industry inventory levels.
This document is Scania's annual report for 2008. It discusses Scania's vision to be a leading company in its industry by creating value for customers, employees, shareholders, and society. The report outlines Scania's mission to supply high-quality vehicles and services for transporting goods and passengers in a sustainable way. It provides an overview of Scania's operations in trucks, buses, coaches, engines, and financial services. The financial reports indicate that Scania delivered 66,516 trucks, 7,277 buses and coaches, and 6,671 engines in 2008.
Our Chief Executive Officer is required to annually certify to the New York Stock Exchange that the company is in compliance with NYSE corporate governance listing standards or note any violations. On June 6, 2007, our Chief Executive Officer submitted this unqualified certification, indicating the company was in full compliance with NYSE standards as of that date.
Our Chief Executive Officer is required to annually certify to the New York Stock Exchange that the company is in compliance with NYSE corporate governance listing standards, though he may qualify the certification if needed. On June 6, 2007, our Chief Executive Officer submitted the certification with no qualification, indicating full compliance with NYSE standards as of that date.
The document outlines the corporate governance guidelines of Perini Corporation. It discusses (1) the composition and responsibilities of the Board of Directors, including director qualifications and independence, (2) the roles and responsibilities of Board committees, and (3) policies regarding Board performance evaluation, director orientation, management succession planning, and the company's code of business conduct. The guidelines are intended to assist the Board in exercising its duties to stakeholders.
The Perini Corporation Code of Business Conduct and Ethics outlines guidelines for ethical behavior. It applies to all directors, officers, and employees. The code establishes rules regarding conflicts of interest, procurement ethics, accounting practices, use of company property, environmental compliance, and insider trading. Any violations of the code are taken seriously and can result in disciplinary action up to dismissal.
The Perini Corporation Code of Business Conduct and Ethics outlines guidelines for ethical behavior. It applies to all directors, officers, and employees. The code establishes rules regarding conflicts of interest, procurement ethics, accounting practices, use of company property, environmental compliance, and insider trading. Any violations of the code are taken seriously and can result in disciplinary action up to dismissal.
The document outlines the Corporate Governance and Nominating Committee Charter for Perini Corporation. The purpose of the committee is to identify and evaluate potential board candidates and lead corporate governance efforts. The committee must consist of at least two independent directors appointed by the board. It has authority to retain outside advisors and meet at least twice per year. Regarding nominations, the committee evaluates candidates, recommends nominees, and assesses board independence. For corporate governance, the committee develops guidelines, reviews committee performance, and recommends criteria for director tenure.
The document is the Compensation Committee Charter for Perini Corporation. It outlines the committee's purpose of ensuring compensation programs attract and retain employees while representing fair value for shareholders. It details the committee's composition, duties, and responsibilities which include annually reviewing executive compensation programs, recommending director and CEO compensation, overseeing incentive plans, and preparing required compensation disclosures.
The document is the Compensation Committee Charter for Perini Corporation. It outlines the committee's purpose of ensuring compensation programs attract and retain employees while representing fair value for shareholders. It details the committee's composition, duties, and responsibilities which include annually reviewing executive compensation programs, recommending director and CEO compensation, overseeing incentive plans, and preparing required compensation disclosures.
The document discusses the expansion of The Forum Shops at Caesars in Las Vegas that was completed ahead of schedule and on budget. As the general contractor, Perini worked closely with the architecture and design teams. The expansion included a spiral escalator, large atrium with a skylight, and structural supports for the escalator. It also posed life safety and air handling challenges that were resolved through team effort. A representative from the architecture firm praised Perini for their experience in handling large, complicated projects.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
University of North Carolina at Charlotte degree offer diploma Transcripttscdzuip
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Discover the Future of Dogecoin with Our Comprehensive Guidance36 Crypto
Learn in-depth about Dogecoin's trajectory and stay informed with 36crypto's essential and up-to-date information about the crypto space.
Our presentation delves into Dogecoin's potential future, exploring whether it's destined to skyrocket to the moon or face a downward spiral. In addition, it highlights invaluable insights. Don't miss out on this opportunity to enhance your crypto understanding!
https://36crypto.com/the-future-of-dogecoin-how-high-can-this-cryptocurrency-reach/
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
1. August 2005
BIG LOTS, INC.
AMENDED AND RESTATED AUDIT COMMITTEE CHARTER
The Audit Committee (the “Committee”) is appointed by the Board of Directors (the
“Board”) of Big Lots, Inc. (the “Company”) to assist the Board in fulfilling its oversight
responsibility relating to (1) the integrity of the Company’s financial statements and financial
reporting process and the Company’s systems of internal accounting and financial controls, (2)
the compliance by the Company with legal and regulatory requirements, including the
Company’s disclosure controls and procedures, (3) the annual independent audit of the
Company’s financial statements, the engagement of the independent auditor and the evaluation
of the independent auditor’s qualifications, independence and performance, (4) the performance
of the Company’s internal audit services function, (5) the evaluation of enterprise risk issues, and
(6) the fulfillment of the other responsibilities set out herein.
Composition
The Committee shall be comprised of three members and shall meet the independence
and experience requirements of the New York Stock Exchange and the Securities Exchange
Commission, as such requirements are interpreted by the Board in its business judgment. The
members of the Committee shall be appointed annually by the Board on the recommendation of
the Nominating/Corporate Governance Committee. The Board shall designate one member of the
Committee as its chairperson. Committee members may be replaced by the Board. Each member
will be “financially literate” (or will become so within a reasonable time after his or her
appointment to the Committee), and the chairperson of the Committee shall have “accounting or
related financial management expertise,” as such qualifications are interpreted by the Board in its
business judgment.
No director may serve as a member of the Committee if such director serves on the audit
committees of more than two other public companies unless the Board determines that such
simultaneous service would not impair the ability of such director to effectively serve on the
Committee. No member of the Committee may receive any compensation from the Company
other than directors’ fees.
Authority
The Committee shall have the sole authority to appoint or replace the Company’s
independent auditor (subject, if applicable, to shareholder ratification), and shall approve all
audit engagement fees (and other fees paid in connection with any non-audit services) and terms
of all significant non-audit engagements with the Company’s independent auditor. The
Committee shall consult with management but shall not delegate these responsibilities.
The Committee shall approve guidelines for the retention of the Company’s independent
auditor for any non-audit service and the fee for such service and shall determine procedures for
the approval of audit and non-audit services in advance. The Committee shall, in accordance
2. with such procedures, approve in advance any audit or non-audit service provided to the
Company by the Company’s independent auditor, all as required by applicable law or listing
standards.
The Committee may request any officer or employee of the Company, the Company’s
outside counsel, independent auditor, or internal auditor (or internal audit service provider) to
attend a meeting of the Committee or to meet with any members of, or consultants to, the
Committee. The Committee shall meet with management, the independent auditor and the
internal audit service provider in separate executive sessions at least quarterly.
The Company shall provide for appropriate funding, as determined by the Committee, for
payment of compensation to the independent auditor for the purpose of rendering or issuing audit
reports or performing other audit, review or attest services for the Company and to any advisors
employed by the Committee, as well as funding for the payment of ordinary administrative
expenses of the Committee that are necessary or appropriate in carrying out its duties.
The Committee is empowered to retain persons having special competence (including
special legal counsel, accounting or other consultants) as necessary to assist the Committee in
fulfilling its responsibility, and may meet with the Company’s investment bankers or financial
analysts who follow the Company. The Committee shall have full authority to investigate any
matter brought to its attention with full access to all books, records, facilities and personnel of
the Company.
The Committee shall instruct the Company’s independent auditor that the independent
auditor is ultimately accountable to the Board and the Committee, as representatives of the
Company’s shareholders.
Meetings/Attendance
The Committee is to meet at least quarterly, and as many times as the Committee deems
necessary. Meetings may be by telephone. Members of the Committee are to participate in all
meetings. An agenda, together with materials relating to the subject matter of each meeting, shall
be sent to members of the Committee prior to each meeting.
Communication/Reporting
The Committee members are expected to maintain free and open communication with the
Company’s independent auditor, members of management and the internal audit service
provider. This communication shall include private sessions with each of these parties.
Furthermore, the Committee shall provide sufficient opportunity for the Company’s independent
auditor to meet with others in the Company as appropriate without members of management
present.
Minutes of each meeting are to be prepared and sent to Committee members and the
Company’s Directors who are not members of the Committee. Copies are to be provided to the
Company’s independent auditor as well as the Company’s Chief Financial Officer.
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3. The Committee shall make regular reports to the Board. The Committee shall review
with the full Board any issues that arise with respect to the quality or integrity of the Company’s
financial statements, the Company’s compliance with legal or regulatory requirements, the
performance and independence of the Company’s independent auditors, or the performance of
the internal audit function.
Responsibilities
The Committee is to serve as a focal point for communication between the Company’s
Directors who are not members of the Committee, the Company’s independent auditor, and
members of management, as their duties relate to financial accounting, reporting and controls.
The Committee is to assist the Board in fulfilling its fiduciary responsibilities as to accounting
policies and reporting practices of the Company, its subsidiaries and affiliates, and the
sufficiency of auditing relative thereto. It is to be the Board’s principal agent in ensuring the
independence of the Company’s independent auditor, the integrity of management and the
adequacy of disclosures to shareholders. The opportunity for the independent auditor to meet
with the entire Board as needed is not to be restricted, however.
The Committee shall rely on the expertise and knowledge of the Company’s members of
management and the Company’s independent auditor in carrying out its oversight
responsibilities. Management of the Company is responsible for determining the Company’s
financial statements are complete, accurate, and in accordance with generally accepted
accounting principles (“GAAP”). The Company’s independent auditor is responsible for auditing
the Company’s financial statements. It is not the duty of the Committee to plan or conduct audits,
to determine that the Company’s financial statements and disclosures are complete and accurate
and are in accordance with GAAP or to assure compliance with applicable rules and regulations.
The Committee shall establish procedures for the receipt, retention and treatment of
complaints received by the Company regarding accounting, internal accounting controls or
auditing matters and the confidential, anonymous submission by employees of the Company of
concerns regarding questionable accounting or auditing matters.
Specific Duties
At least quarterly, the Committee is to:
(1) Meet to review and discuss with members of management and the Company’s
independent auditor the Company’s quarterly financial statements prior to the filing of its Form
10-Q, including the results of the Company’s independent auditor’s review of the quarterly
financial statements and the disclosures under “Management’s Discussion and Analysis of
Financial Condition and Results of Operations.”
(2) Discuss with members of management and the Company’s independent auditor
significant financial reporting issues and judgments made in connection with the preparation of
the Company’s quarterly financial statements, including any significant changes in the
3
4. Company’s selection or application of accounting principles, any major issues as to the adequacy
of the Company’s internal controls (including any special audit steps adopted in light of material
control deficiencies), the development, selection and disclosure of critical accounting estimates,
and analysis of the affect of alternative assumptions, estimates or GAAP methods on the
Company’s financial statements.
(3) Discuss with members of management the Company’s earnings press releases,
including the use of “proforma” or “adjusted” non-GAAP information, as well as financial
information and earnings guidance provided to analysts and rating agencies.
(4) Receive periodic reports from the Company’s independent auditor regarding their
independence, discuss such reports with them, consider whether the provision of non-audit
services is compatible with maintaining the independent auditor’s independence and, if so
determined by the Committee, recommend that the Board take appropriate action to satisfy itself
of the independence of the Company’s independent auditor.
(5) Review with members of management and the Company’s independent auditor any
correspondence with regulators or governmental agencies and any employee complaints or
published reports which raise material issues regarding the Company’s financial statements or
accounting policies.
(6) Meet with the Chief Financial Officer, the Company’s independent auditor and the
Company’s internal auditor (or internal audit service provider) in separate sessions, without
management present.
(7) Review with the Company’s General Counsel legal or other matters that may have a
material impact on the financial statements, the Company’s compliance policies (including
compliance with the Company’s Code of Business Conduct & Ethics) and any material reports or
inquiries received from regulators or governmental agencies.
(8) Discuss with members of management all certifications required under Section 302 of
the Sarbanes-Oxley Act of 2002.
(9) Review with the Chief Executive Officer, the Chief Financial Officer and the General
Counsel the Company’s disclosure controls and procedures and review management’s
conclusions about the effectiveness of such disclosure controls and procedures, including any
significant deficiencies in, or material non-compliance with, such controls and procedures.
(10) Review with members of management and the Company’s independent auditor the
effect of new or proposed regulatory and accounting initiatives, as well as off-balance sheet
structures, on the Company’s financial statements and other public disclosures.
At least annually, the Committee is to:
(1) Meet with the Company’s independent auditor and internal auditor (or internal audit
service provider) prior to their respective audits to review the overall scope and plans for the
4
5. respective audits, the adequacy of staffing (including experience and qualifications of senior
members) and other factors that may affect the effectiveness and timeliness of such audits. The
Committee shall discuss with members of management, the internal auditor (or internal audit
service provider) and the Company’s independent auditor the Company’s major risk exposures
(whether financial, operating or otherwise), including the steps management has taken to monitor
and control such exposures, management of the Company’s legal compliance programs and
other considerations that may be relevant to their respective audits. The Committee shall review
with members of management and the Company’s independent auditor management’s annual
internal control report, including any attestation of the same by the Company’s independent
auditor and the adequacy and effectiveness of the Company’s accounting and financial controls.
Members of management and the internal auditor (or internal audit service provider) shall report
periodically to the Committee regarding any significant deficiencies in the design or operation of
the Company’s internal controls, material weaknesses in internal controls and any fraud
(regardless of materiality) involving persons having a significant role in the internals controls, as
well as any significant changes in internal controls implemented by management during the most
recent reporting period of the Company.
(2) Discuss with the Company’s independent auditor and members of management the
internal audit responsibilities, budget and staffing (whether internal or outsourced) and any
recommended changes in the planned scope of the internal audit. If the internal audit services are
outsourced, the Committee shall be responsible for the engagement, evaluation and termination
of the internal audit service provider and shall approve fees paid to the internal audit service
provider. As part of its responsibility to evaluate any internal audit service provider, the
Committee shall review the quality control procedures applicable to the service provider. The
Committee shall also obtain a report of the service provider addressing such service provider’s
internal control procedures, issues raised by their most recent internal quality control review or
by any inquiry or investigation by governmental or professional authorities for the preceding five
years and the response of such service provider.
(3) Meet to review and discuss the annual audited financial statements, with members of
management and the Company’s independent auditor, including disclosures made under
“Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and
recommend to the Board whether the audited financial statements should be included in the
Company’s Form 10-K. When conducting its review, the Committee shall discuss with members
of management and the Company’s independent auditor their judgments about the quality, not
just acceptability, of accounting principles, the reasonableness of significant judgments, the
clarity of the disclosures in the financial statements and the adequacy of internal controls.
(4) Discuss with members of management and the Company’s independent auditor
significant financial reporting issues and judgments made in connection with the preparation of
the Company’s annual financial statements, including any significant changes in the Company’s
selection or application of accounting principles, any major issues as to the adequacy of the
Company’s internal controls, the development, selection and disclosure of critical accounting
estimates, analysis of the affect of alternative assumptions, estimates or GAAP methods on the
Company’s financial statements, and a description of any transactions as to which management
5
6. obtained Statement on Auditing Standards No. 50 (Reports on the Application of Accounting
Principles) letters.
(5) Discuss with the Company’s independent auditor and internal audit service provider,
if any, any consultations they held with their respective national offices regarding accounting or
auditing issues.
(6) Obtain from the Company’s independent auditor assurance that Section 10A of the
Securities Exchange Act of 1934, regarding illegal acts, has not been implicated.
(7) Discuss with the Company’s independent auditor the matters required to be discussed
by Statement on Auditing Standards No. 61 (Communication with Audit Committees) relating to
the conduct of the audit. In particular, and without limitation, discuss:
(a) The adoption of, or changes to, the Company’s significant auditing and
accounting principles and practices as suggested by the Company’s independent auditor
for management.
(b) The management letter provided by the Company’s independent auditor and
the Company’s response to that letter.
(c) Any difficulties encountered in the course of the audit work and
management’s response, including any restrictions on the scope of activities or access to
requested information, and any significant disagreements with management.
(8) Obtain and review a report from the Company’s independent auditor regarding (a) the
auditor’s internal quality-control procedures, (b) any material issues raised by the most recent
internal quality-control review, or peer review, of the firm, or any inquiry or investigation by
governmental or professional authorities, within the preceding five years, respecting one or more
independent audits carried out by the firm, (c) any steps taken to deal with any such issues, and
(d) all relationships between he Company’s independent auditor and the Company. Evaluate the
qualifications, performance and independence of the Company’s independent auditor, including
whether the Company’s independent auditor’s internal quality-controls are adequate and its
provision of non-audit services is compatible with maintaining the auditor’s independence,
taking into account the opinions of management and the Company’s internal auditor (or internal
audit service provider). Review and evaluate the performance of the lead partner of the
Company’s independent auditor assigned to the Company. The Committee shall present its
conclusions to the Board and, if so determined by the Committee, recommend that the Board
take additional action to satisfy itself of the qualifications, performance and independence of the
auditor.
(9) Obtain and review any other material written communications (or summaries thereof)
between the Company’s independent auditor and management and all relevant reports (or
summaries thereof) rendered by the Company’s independent auditor.
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7. (10) Consider whether, in order to assure continuing auditor independence, it is
appropriate to adopt a policy of rotating the lead audit partner or even the Company’s
independent auditing firm itself on a regular basis.
(11) Obtain and review a summary of the Company’s transactions with Directors and
officers of the Company and with firms that employ Directors, as well as any other material
related party transactions.
(12) Prepare the report required by the rules of the Securities and Exchange Commission
to be included in the Company’s annual proxy statement.
(13) Review the Company’s independent auditor’s attestation and report on
management’s internal control report required under Section 404(b) of the Sarbanes-Oxley Act
of 2002.
As required, the Committee is to:
(1) Review with members of management and the Company’s independent auditor the
effect of regulatory and accounting initiatives as well as off-balance sheet structures, if any, on
the Company’s financial statements.
(2) Meet periodically with members of management to review major financial risk
exposures of the Company identified by management, if any, and the steps management has
taken to monitor and control such exposures, including the Company’s risk assessment and risk
management policies.
(3) Set policies and guidelines for the Company’s hiring of employees or former
employees of the Company’s independent auditor who were engaged on the Company’s account.
(4) The Committee shall also carry out such other duties that may be delegated to it by
the Board from time to time.
Performance Evaluation
The Committee shall produce and provide to the Board an annual performance self-
evaluation of the Committee, which evaluation shall compare the performance of the Committee
with the requirements of this charter and set forth the goals and objectives of the Committee for
the upcoming year. The performance evaluation shall also recommend to the Board, for its
approval, any improvements to the Committee’s charter deemed necessary or desirable by the
Committee. The performance evaluation by the Committee shall be conducted in such manner as
the Committee deems appropriate. The report to the Board may take the form of an oral report by
the chairperson of the Committee or any other member of the Committee designated by the
Committee to make this report.
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