The Role of the Audit Committee for a Non-Public Cooperative

An article from Dorsey and Whitney, US law firm:

The origin of the modern audit committee dates back to 1939 when the New York Stock Exchange recommended that public companies have an audit committee. The role of the audit committee has evolved over time, and now the Sarbanes-Oxley Act of 2002 (“SOX Act”) requires public companies, including cooperatives that register their stock with the Securities and Exchange Commission (“SEC”), to have an audit committee.

See complete article.