Fenglin Group(SH:601996) Zheng Quan Zhi Xing·2025-08-14 16:38Core Points - The article outlines the working rules of the Audit Committee of Guangxi Fenglin Wood Industry Group Co., Ltd, aiming to enhance the decision-making function of the board and ensure effective auditing practices [1][2][3] General Provisions - The Audit Committee is established under the board of directors to perform duties according to laws, regulations, and the company's articles of association [1] - The company must provide necessary working conditions and support for the Audit Committee [1] Composition of the Committee - The Audit Committee consists of three to five members, with a majority being independent directors, and is chaired by an independent director with accounting expertise [2][3] - The committee's term aligns with that of the board, and members can be re-elected [2] Responsibilities and Authority - The Audit Committee supervises and evaluates both internal and external audit work, ensuring the establishment of effective internal controls and accurate financial reporting [2][3] - Key responsibilities include reviewing financial information, overseeing internal controls, and examining the use of raised funds and major investment projects [3][4] Meeting Procedures - The Audit Committee must meet at least quarterly, with provisions for special meetings as needed [7][8] - A quorum requires the presence of two-thirds of the members, and decisions are made by a majority vote [8][9] Reporting and Disclosure - The Audit Committee is required to report to the board at least biannually on its activities, including internal audit progress and significant issues [6][7] - Annual performance of the Audit Committee must be disclosed alongside the company's annual report [7]