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SEC Filings

DEF 14A
ACETO CORP filed this Form DEF 14A on 10/20/2017
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REPORT OF THE AUDIT & RISK COMMITTEE

 

The Audit & Risk Committee acts under a written charter adopted by the Audit & Risk Committee and approved by the Board. The Audit & Risk Committee charter is available on the Company’s corporate website-www.aceto.com.

 

The Audit & Risk Committee is comprised of William N. Britton (Chairman), Alan G. Levin and Dr. Daniel B. Yarosh. Each of these directors meets the independence and expertise requirements of the SEC and the NASDAQ Global Select Market. Subject to shareholder ratification at the annual meeting, the Audit & Risk Committee appoints and retains the Company’s independent registered public accounting firm, approves the scope of the audit plan, and reviews and approves the fees of the independent accounting firm. The Audit & Risk Committee met regularly with the Company’s independent accountants during the past fiscal year, both with and without management present, to review the scope and results of the audit engagement, the Company’s system of internal controls and procedures, the effectiveness of procedures intended to prevent violations of laws and regulations, and the implementation of internal financial controls required by the Sarbanes-Oxley Act of 2002. In compliance with the SEC rules regarding auditor independence, and in accordance with the Company’s Audit & Risk Committee Charter, the Audit & Risk Committee reviewed all services performed by BDO USA, LLP for the Company within and outside the scope of the quarterly review and annual auditing functions.

 

The Audit & Risk Committee also:

 

·Met to discuss the quarterly unaudited and the annual audited financial statements with management and BDO USA, LLP prior to the statements being filed with the SEC;

 

·Reviewed the Company’s disclosures in the Management’s Discussion and Analysis sections of such filings;

 

·Reviewed management’s program, schedule, progress and accomplishments for maintaining financial controls and procedures to assure compliance with Section 404 of the Sarbanes-Oxley Act of 2002;

 

·Reviewed quarterly earnings releases prior to their publication;

 

·Received from BDO USA, LLP written communications regarding the matters required to be discussed with the Audit & Risk Committee. These matters included information regarding the scope and results of their audit of the Company’s financial statements, including with respect to (i) their responsibilities under generally accepted auditing standards, (ii) significant accounting policies, (iii) management judgments and estimates, (iv) any significant accounting adjustments, (v) any disagreements with management and (vi) any difficulties encountered in performing the audit. The Committee discussed these matters with BDO USA, LLP, with and without management present;

 

·Reviewed and approved in advance in accordance with the Company’s Audit & Risk Committee Pre-Approval Policy all proposals and fees for any work to be performed by BDO USA, LLP;

 

·Reviewed and made recommendations to the Board to revise the committee’s charter as necessary in order to comply with best practice as well as newly enacted rules and regulations;

 

·Monitored the Company’s “whistleblower” program under which any complaints are forwarded directly to the Committee, to be reviewed in accordance with an established procedure for all such matters;

 

·Reviewed the Company’s related party transactions and policy for related party transactions

 

·Oversaw the Company’s relationship with the independent auditor, including overseeing the rotation of the audit partners as required by law and meeting with the independent auditor to discuss planning and staffing of the audit;

 

·Reviewed the audit, tax and audit-related services the Company had received from BDO USA, LLP and determined that the providing of such services by BDO USA, LLP was compatible with the preservation of their independent status as our independent registered public accounting firm;

 

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