Baker Hughes 2009 Annual Report Download - page 72

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62 Baker Hughes Incorporated
While the Committee has the responsibilities and powers
set forth in this Charter, it is not the duty of the Committee
to plan or conduct audits; those are the responsibilities of the
independent registered public accounting firm. Further, it is
not the Committee’s responsibility to determine that the Com-
pany’s financial statements are complete and accurate and are
in accordance with generally accepted accounting principles;
those are the responsibilities of management. Nor is it the
duty of the Committee to conduct investigations, to resolve
disagreements, if any, between management and the indepen-
dent auditor or to assure compliance with laws and regulations
or with Company policies.
Meetings
The Committee will meet at least five times per year as
determined by the Board of Directors. Special meetings may
be called, as needed, by the Chairman of the Board of Direc-
tors or the Chairman of the Committee. The Committee may
create subcommittees who shall report to the Committee. The
Committee may ask employees, the independent registered
public accounting firm, corporate auditors or others whose
advice and counsel the Committee deems relevant to attend
meetings and provide information to the Committee. The
Committee will be available to the independent registered
public accounting firm and the corporate auditors of the Com-
pany. All meetings of the Committee will be held pursuant
to the Bylaws of the Company and written minutes of each
meeting will be duly filed in the Company records. Reports
of meetings of the Committee shall be made to the Board of
Directors at its next regularly scheduled meeting following the
Committee meeting accompanied by any recommendations
to the Board of Directors approved by the Committee.