Audit Committee
The Audit Committee assists the board of directors in fulfilling its oversight responsibility with respect to:
- Abbott's accounting and financial reporting practices and the audit process
- The quality and integrity of Abbott's financial statements
- The independent auditors' qualifications, independence and performance
- The performance of Abbott's internal audit function and internal auditors
- Certain areas of legal and regulatory compliance
Each of the members of the Audit Committee is financially literate, as required of audit committee members by the New York Stock Exchange. The board of directors has determined that R.S. Austin is an "audit committee financial expert."
The Audit Committee is governed by a written charter.
Members of the Audit Committee: R.S. Austin, chairman; D.A.L. Owen; S.C. Scott, III; W.D. Smithburg and G.F. Tilton
