XM Radio 2015 Annual Report Download - page 60

Download and view the complete annual report

Please find page 60 of the 2015 XM Radio annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 132

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132

processes and practices with respect to enterprise risk assessment and management, including
discussions of individual risk areas, as well as an annual summary of the overall process.
The Audit Committee discussed with KPMG the overall scope and plans for their audit and
approved the terms of their engagement letter. The Audit Committee has also discussed with our
Senior Vice President, Internal Audit, the overall scope of and plans for our internal audits. The
Audit Committee met with KPMG and with our internal auditors, in each case, with and without
other members of management present, to discuss the results of their respective examinations, the
evaluations of our internal controls and the overall quality and integrity of our financial reporting.
Additionally, the Audit Committee reviewed the performance, responsibilities, budget and staffing of
our internal audit department. The Audit Committee also has established, and overseen compliance
with, procedures for our receipt, retention and treatment of complaints regarding accounting, internal
accounting controls or auditing matters and our employees’ confidential and anonymous
submissions of concerns regarding questionable accounting or auditing matters.
The Audit Committee discussed with KPMG their independence from the Company and our
management, including the matters, if any, in the written disclosures delivered pursuant to the
applicable requirements of the PCAOB. The Audit Committee also reviewed our hiring policies and
practices with respect to current and former employees of the independent registered public
accounting firm. The Audit Committee preapproved, in accordance with its preapproval policy
described above, all services provided by the independent registered public accounting firm and
considered whether the provision of such services to us is compatible with maintaining their
independence.
Based on the reviews and discussions referred to above, the Audit Committee recommended to
the board of directors, and the board approved, that the audited consolidated financial statements
be included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2015 filed
with the SEC.
This report is provided by the following independent directors, who comprise the Audit
Committee:
JOAN L. AMBLE, Chairwoman
EDDY W. HARTENSTEIN
VANESSA A. WITTMAN
50