This lack of knowledge reduces the practical value and effectiveness of the Commission's plans to protect the EU's financial interests against fraud, say the auditors.
Assess, select, make relevant proposal for appointment/ termination of the independent party to be Company's auditors, as well as their remuneration, and hold meeting with the auditors at least once a year without the presence of any members of the Company's management.
CPN's directors and executives attend the shareholders' meeting and allow the shareholders to ask and present their views, as well as to seek clarification from the directors, executives, and the auditors during applicable agenda items.
To review an annual financial statement already audited by auditors and to ensure that it meets the generally-accepted accounting principles; to consider and screen financial information together with the auditors before releasing it to the third party.
To consider, select, nominate and remove independent persons to be the Company's auditors, and to propose such auditors' remuneration, as well as to attend meetings with the auditors among themselves without management team at least once a year;
The previous shareholders meetings would include the Board of Directors, the Audit Committee, the Executive Committee and Senior Executives, the Auditors, Independent Financial Advisors, and Legal Advisors to monitor the vote in case of dispute in the meeting. The Board has given priority to the shareholders meeting by attending each meeting if there is no critical mission.
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