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ANNUAL REPORT PREAUDIT COMMITTEE THEIR OF NEW YORKMarch 1, 2009 February 28, 20101 EXECUTIVE SUMMARY This is the thirty-first annual report of the Audit Committee of The City of New York (the Committee).

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How to fill out independent audit committees in

1. To fill out independent audit committees, follow these steps:
2. Identify the purpose of the audit committee and its composition requirements.
3. Determine the number of independent members required for the committee.
4. Identify potential candidates for the committee who possess the necessary qualifications and independence.
5. Evaluate the qualifications, experience, and integrity of the candidates.
6. Nominate and appoint the selected candidates as members of the independent audit committee.
7. Provide the necessary orientation and training to the committee members.
8. Define the roles and responsibilities of the committee, including meeting frequency and reporting requirements.
9. Ensure the committee operates independently and objectively in executing its duties.
10. Monitor the committee's functioning and provide any necessary support or guidance.
11. Conduct periodic assessments of the committee's effectiveness and make any necessary adjustments or improvements.

Who needs independent audit committees in?

1. Independent audit committees are required in various sectors and organizations, including:
2. - Publicly traded companies listed on stock exchanges.
3. - Financial institutions such as banks, insurance companies, and investment firms.
4. - Non-profit organizations receiving significant funding from external sources.
5. - Government agencies and entities involved in financial oversight.
6. - Any organization committed to ensuring transparency, accountability, and good governance.
7. Having an independent audit committee is considered a best practice and promotes trust among stakeholders, investors, and the general public.

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