Audit Policy

AUI engages the services of independent public accountants to conduct an annual audit of the accounts of the Corporation in order to state their opinion as to the overall fairness of the representations contained in AUI’s financial statements. The Audit Committee provides oversight, on behalf of the Board, of the Corporate audit activities. The Controller is responsible for maintaining liaison with the AUI Audit Committee and with the external audit firm.

AUI will also conduct internal audit activities as a means of determining whether AUI activities in the Research Centers and the Corporate Office are being executed in accordance with prescribed policies, procedures, laws and contracts. Internal audit activities may be conducted by AUI employees, consultants and/or contractors. The AUI Controller is responsible for management and oversight of internal audit functions.