The Audit Committee is required to ensure that it meets the extensive requirements of the Act.  The Audit Committee members must therefore individually ensure that they meet the requirements for independence, qualifications and understanding as required by the new legislation.

This checklist is supplied to assist with this process and should be completed by individual members and for the Committee in respect of each period where reports are filed.

It should be noted that new members of the Committee must be made aware of these requirements and the checklist should be applied to each new Committee member shortly after they have been appointed.