audit committee
Defined in 2 places of the United States Code.
The term “audit committee” means—
(A) a committee (or equivalent body) established by and amongst the board of directors of an issuer for the purpose of overseeing the accounting and financial reporting processes of the issuer and audits of the financial statements of the issuer; and
(B) if no such committee exists with respect to an issuer, the entire board of directors of the issuer.
Same definition in 2 sections
- 2002–present15 U.S.C. § 7201Commerce and Trade · Definitions · in this section
- 2014–present15 U.S.C. § 78CCommerce and Trade · Definitions and application · under this chapter
Audit committee.—The term “audit committee” means—
(A) a committee (or equivalent body) established by and amongst the board of directors of an issuer for the purpose of overseeing the accounting and financial reporting processes of the issuer and audits of the financial statements of the issuer; and
(B) if no such committee exists with respect to an issuer, the entire board of directors of the issuer.
Source
- 2002–201415 U.S.C. § 78CCommerce and Trade · Definitions and application · under this chapter