- Investor Relations
- Press Releases
- Events & Presentations
- Corporate Governance
- Financial Information
- Stock Information
- Investor FAQs
- Contact Us
Charter of the Audit Committee
This Audit Committee Charter was adopted by the Board of Directors (the “Board”) of Global Power Equipment Group Inc. (the “Company”) on December 20, 2016.
17. To review with management, members of the internal audit function and the independent auditors, the adequacy and effectiveness of the Company’s internal control over financial reporting and disclosure controls and procedures, including reviewing and discussing with management and the independent auditor any significant deficiencies or material weaknesses or material changes in the design or operation of the Company’s internal controls and the certification and reports of management and the independent auditor required in the Company’s periodic SEC reports concerning the Company’s internal control over financial reporting and disclosure controls and procedures, the adequacy of such controls, any remedial audit steps being undertaken to address any material weaknesses or significant deficiencies in internal control over financial reporting, and any fraud involving management or other employees with a significant role in such processes, controls and procedures.
Ethical Compliance, Legal Compliance, and Risk Management
In addition to retaining on behalf of the Company the Company’s independent auditor and any other accounting firm the retention of which is to prepare or issue any other audit report or to perform any other audit, review or attest services the Committee determines is necessary or appropriate in connection with the conduct of the Company’s business and affairs, the Committee has the authority, in its sole discretion, to retain legal counsel and accounting and other advisors and consultants it deems advisable or necessary to assist it in carrying out its responsibilities under this Charter. The Committee shall set the compensation, and oversee the work, of any outside counsel and other advisors. The Company shall provide adequate resources, as determined by the Committee in its capacity as a committee of the Board, to support the Committee’s activities, including compensation of the Company’s independent auditor and any other auditor and any legal counsel, accounting or other advisor or consultant retained by the Committee. The Committee may conduct or authorize investigations into any matters within the scope of the duties and responsibilities delegated to the Committee.
The Committee, by resolution approved by a majority of the Committee, may form and delegate any of its responsibilities to, along with the authority to take action in relation to such responsibilities, one or more subcommittees as the Committee may deem appropriate in its sole discretion, so long as such subcommittee is solely comprised of one or more members of the Committee and such delegation is not otherwise inconsistent with law and applicable rules and regulations of the SEC and, if applicable, the NYSE.
The Committee’s role is one of oversight. The Company’s management is responsible for preparing the Company’s financial statements and the independent auditor is responsible for auditing the annual financial statements. The Board and Committee recognize that Company management, including the internal audit staff, and the independent auditor have more time, knowledge and detailed information about the Company than do Committee members. Consequently, in carrying out its oversight responsibilities, the Committee is not providing any expert or special assurance as to the Company’s financial statements or any certification as to the work of any auditor.
Download PDF 46.9 KB