Blast from the past

This is from the CCC 2011 Annual Report

Pity ASIC did not read it.


4. Safeguard integrity in financial reporting
4.1 The board should establish an audit committee.

4. Safeguard integrity in financial reporting
4.1 The board should establish an audit committee. Not Satisfied. The Directors believe that it would not increase
efficiency or effectiveness to have a separate audit committee,
and that audit matters are of such significance that they should be
considered by the full Board. The Board may call on outside
consultants if it requires assistance in this area.

RB