The Audit Committee’s primary function is to oversee the annual audit of our financial statements. The committee selects an independent registered public accounting firm to audit our consolidated financial statements for the fiscal year in which they are appointed. Prior to the audit, the committee reviews the scope of work with the public accounting firm and approves the scope of the audit.
The duties of the Committee are also to oversee and approve non-audit services provided to us by our independent certified public accountants. The Audit Committee is also responsible to oversee the development and effectiveness of the Trust’s internal financial controls. The Committee works with Management to ensure robust and effective controls on all other matters of Risk Management.
The members of the Audit Committee are independent trustees, as defined in Rule 5605(a)(2) of the Nasdaq Marketplace Rules and as defined by the Sarbanes-Oxley Act of 2002. The committee complies with the provisions of the Sarbanes-Oxley Act of 2002.