Internal Audit. The Board of Directors shall maintain at all times an internal audit program through a dedicated Internal Audit Department (“IAD”). The IAD shall report directly to the Board or the Board’s Audit Committee, so as to provide the Board of Directors with independent and objective information as to whether major business risks are being managed appropriately and whether the company’s risk management and internal control framework is operating effectively.
Appears in 4 contracts
Samples: Settlement Agreement and Consent Order, Settlement Agreement and Consent, Settlement Agreement and Consent