Eli Lilly 2004 Annual Report Download - page 93

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PROXY STATEMENT
9191
auditing, fi nancial reporting, and investor disclosures). As to all other areas of compliance (“non-fi nancial compli-
ance”), the public policy and compliance committee shall have oversight responsibilities in the fi rst instance; how-
ever, the two committees shall meet jointly at least annually to review the major non-fi nancial compliance matters,
including:
• Overall state of compliance
• Signifi cant legal or regulatory compliance exposure
• Material reports or inquiries from regulators.
13. Together with the public policy and compliance committee, review at least annually a summary of the risk as-
sessment and risk management processes and policies.
14. Inquire of management, the general auditor, and the independent auditors about signifi cant fi nancial risks or
exposures and evaluate the steps management has taken to assess and minimize such risks to the company, in-
cluding review of management’s fi nancial risk management policies.
15. Review policies and procedures with respect to senior management’s expense accounts, including their use of
corporate assets, and consider the results of any review of these areas by the general auditor or the independent
auditor.
16. Conduct or authorize investigations into any matters within the committee’s scope of responsibilities. The com-
mittee may retain (at the company’s expense) independent counsel, accountants, or others to assist in the conduct
of any investigation.
17. The committee shall also undertake such additional activities within the scope of its primary functions as the
committee may from time to time determine.