Aamir Khan (Internal auditor) (24 Points)
16 January 2012Hi members
I am in the process of drafting an audit committee charter and need the following clarificaiton:
Can an audit committee member nominate another audit committee member to attend audit committee meetings in his absence. If yes, will he be counted to complete quorum and have the right to vote?
Appreciate the response with reference if possible. thanks
Kind regards
Aamir
Kolluru Krishna Murty
(Partner)
(315 Points)
Replied 03 February 2012
I have no reference,but having dealt with such situations practically I am answering .
Audit Committee(AC) can nominate some other person to attend,but it will not be counted for quorum.
I could not follow one Audit Committee member nominating another Audit Committee member to attend,since that member has to attend and vote in his capcity as a member and not twice(one on his own behalf and another on behalf of his colleague).
kkm
CAclubindia
