Relationship with External Auditors Sample Clauses

Relationship with External Auditors. The Audit Committee shall recommend to the Board the appointment or replacement of the external auditors; • The Audit Committee shall be responsible for determining the compensation of the external auditors and for overseeing the work of the external auditors for the purpose of preparing and issuing an audit report; • The external auditors shall report directly to the Audit Committee; • The Audit Committee shall approve in advance all audit and permitted non- audit services with the external auditors. This includes the terms of engagement and all fees payable; • The Audit Committee shall, on an annual basis, evaluate the qualifications, performance and independence of the external auditors (including the external auditors’ internal quality control procedures) and notify the Board and external auditors in writing of any concerns in regards to the performance of the external auditors, or the accounting or auditing methods, procedures, standard, or principles applied by the external auditors, or any other accounting or auditing issues which come to the attention of the Audit Committee; • The Audit Committee shall 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 external audit firm on a regular basis; • The Audit Committee shall review and approve the Corporation’s hiring policies regarding partners, employees, former partners and former employees of the Corporation’s present and former external auditors;