Independence Rules definition

Independence Rules means Rule 2-01 of Regulation S-X on auditor independence (codified at 17 C.F.R. sec. 210.2-10); the SEC’s interpretations of the independence rules (collected at Codification of Financial Reporting Policies, Section 600-Matters Relating to Independent Accountants, reprinted in Fed. Sec. L. Rep. (CCH) 73,251 et seq.); the SEC’s Release “Strengthening the Commission’s Requirements Regarding Auditor Independence” and the amendments thereto (Exchange Act Release Nos. 47265 and 47265A respectively, Fed. Sec. L. Rep. (CCH) 86,822 (January 28, 2003) (effective May 6, 2003) and 86,845 (March 26, 2003) (effective March 31, 2003) respectively); the SEC’s Release “Revision of the Commission’s Auditor Independence Requirements” (Exchange Act Release No. 43602, Fed. Sec. L. Rep. (CCH) 86,406 (November 21, 2000) (effective February 5, 2001)); the American Institute of Certified Public Accountant’s Code of Professional Conduct, Section 100, Rule 101-Independence or rules that may be promulgated thereunder and any other rules with respect to auditor independence promulgated by the SEC, the Public Company Accounting Oversight Board, the American Institute of Certified Public Accountants or other professional entity or Governmental Entity (including any equivalent foreign regulatory or oversight body or professional entity).
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Independence Rules means (i) the auditor independence rules as established by the American Institute of Certified Public Accountants, the SEC, the Independence Standards Board, the state boards of accountancy and any other duly constituted regulatory authority, as the same may be amended from time to time and (ii) the terms and conditions contained in the No-Action Letter.
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Examples of Independence Rules in a sentence

  • The Employee acknowledges that Consulting is, and for an indefinite period of time after the Separation may continue to be, subject to the Auditor Independence Rules.

  • The Employee agrees to abide at all times (including after any termination of employment with Consulting) by the Auditor Independence Rules applicable to KPMG and to take any and all action requested by the Board of Directors of KPMG in connection with such Auditor Independence Rules.

  • The position of Chairman shall neither be deemed a position of employment with the Corporation nor be deemed an officer position with the Corporation (as the term "officer" is defined in Rule 16a-1 of the Securities Exchange Act of 1934 or as the terms "employee" and "executive officer" are used in the NASDAQ Independence Rules (Marketplace Rule 4200)).

  • As of the date hereof, Longkloof confirms that each of the Approved Longkloof Board Candidates would qualify as an “independent” member of the Board pursuant to the current Nasdaq Independence Rules.

  • It is understood and agreed that nothing in this Section 12.3 shall be deemed to constitute a waiver by PwCIL of any rights or powers it possesses under the Regulations of PwCIL or otherwise to cause any member or network firm in the PricewaterhouseCoopers global network of firms to comply with the SEC Independence Rules and the rules and regulations thereunder.

  • An "Independence Conflict" shall be deemed to exist in the event that the Board of Directors of KPMG determines that, in order to comply with the Auditor Independence Rules, it is necessary or appropriate for KPMG and/or any or all of the Qualified Partners to divest some or all of their Registrable Securities.

  • The Member agrees to abide by the Auditor Independence Rules applicable to KPMG and to take any and all action requested by the Board of Directors of KPMG in connection with such Auditor Independence Rules.

  • Deloitte & Touche LTDA which has audited the annual financial statements of Isagen that are incorporated by reference in the U.S. Registration Statement, the Disclosure Package, the U.S. Prospectus and the Supplemented Canadian Prospectus, are independent auditors with respect to Isagen under the Independence Rules of the AICPA Code of Professional Conduct and its interpretations.

  • As of the date hereof, to Seller’s Knowledge, there is no prohibition under the Independence Rules to the execution, delivery and performance of this Agreement or any of the Transaction Documents by Seller or the consummation of the Transactions.

  • In the event that (i) the Board of Directors of KPMG determines that, in order to comply with the Auditor Independence Rules, it is necessary or appropriate for the Member to divest some or all of the Member's Issued Equity, the Member hereby agrees to the sale or transfer of some or all of his Issued Equity at the times, in the amounts and on the terms, prices and conditions determined by the Board of Directors of KPMG.