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Simple English definitions for legal terms

audit committee

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A quick definition of audit committee:

An audit committee is a group of people who are responsible for making sure a company's financial reports are accurate and truthful. They oversee the work of the company's auditors and make sure that the company is following all the rules and regulations related to financial reporting. The committee is made up of members of the company's board of directors and must be independent from the company to ensure that they are unbiased in their work. Public companies are required to have an audit committee by law.

A more thorough explanation:

The audit committee is a group of people who are part of a company's board of directors. They are responsible for making sure that the company's financial reports are accurate and that the company's auditors are doing their job properly.

For example, if a company's financial statements show that they made a lot of money, the audit committee would check to make sure that the numbers are correct and that the company is not hiding anything. They would also make sure that the company's auditors are independent and not influenced by the company's management.

The audit committee is required by law for public companies in the United States. This means that companies that want to sell their stock to the public must have an audit committee. The audit committee is regulated by the Securities and Exchange Commission (SEC) and must follow certain rules to ensure that they are doing their job properly.

audit | auditor

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9:31
some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173
9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
WorthlessAttractiveZombie
9:34
I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)
IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES
HELLO
WorthlessAttractiveZombie
9:35
it sent a million times lol
WHAT HAPPENED
yeah i thought you were tweaking for a second
i'm so sorry everyone what the actual fuck this website hates me
WorthlessAttractiveZombie
9:35
Jack's just tweaking on LSD no biggie
to be fair this accurately represents my mental state
election day psychosis coming in hot (fordham)
usc pls pull through .....
i literally just need one A so i can relax before my ED decision
WorthlessAttractiveZombie
9:38
oh that's right USC might release
soapy
9:43
USC still has not looked at my app
WorthlessAttractiveZombie
9:43
when did you submit soapy?
soapy
9:44
10/16
WorthlessAttractiveZombie
9:44
to be fair it took them almost 2 months for me to go under review
soapy
9:44
Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7
WorthlessAttractiveZombie
9:45
I have not had a date change either for Mich but I've seen people get in without one so who knows
I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw
soapy
9:46
But do people get in without addresses going long?
WorthlessAttractiveZombie
9:46
it's tough to tell because a lot of people type out their addresses long to begin with
soapy
9:46
Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that
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