Tyco's Audit Committee is appointed by the Board to assist the Board in monitoring:
the integrity of the financial statements of the Company.
the outside auditor's independence and qualifications.
the performance of the Company's internal and external auditor.
the compliance by the Company with legal and regulatory requirements.
the effectiveness of the Company's internal controls.
The Audit Committee also is responsible for preparing the report required by the rules of the Securities and Exchange Commission ("SEC") to be included in the Company's annual proxy statement, and overseeing the Company's policies, practices and compliance regarding its Guide to Ethical Conduct.
Each member of the Audit Committee is independent under NYSE listing standards for audit committee members. In addition, the Board has determined that Mr. York, Dr. O'Neill and Dr. Stavropoulos are audit committee financial experts.
To learn more about the Tyco Board Audit Committee and download the Audit Committee charter, click here (36KB pdf).
What has changed with Corporate Governance at Tyco and when did it happen? Review recent headlines that illustrate how the company is taking steps to become a leader in corporate governance.
TYCO GUIDE TO ETHICAL CONDUCT
Tyco's commitment to the highest standards of integrity begins with making sure that everyone across the organization understands the company's core values of integrity, excellence, teamwork and accountability.