Financial Audit Committee (FAC)

Annual Leadership SeminarJanuary 24-25, 2002

Financial Audit CommitteeJob Products

Annual financial audit, including selection of auditor

Financial Audit Committee Customers

SAE Board of Directors SAE Members SAE Finance Committee Various Governmental Agencies

Financial Audit Committee Team 2002 Composition (Members & Staff)

Rodica Baranescu, Chair Karl Goering Gregory W. Henderson S. Michael Hudson J. E. (Ted) Robertson Jana Waters Max E. Rumbaugh, Jr. SAE Staff Stanley C. Theobald, SAE Staff

Financial Audit CommitteeKey Activities

Select SAE’s independent outside auditor

Meet with outside auditor each year to review SAE’s audit report and evaluate internal accounting controls

Financial Audit Committee Measures

Receive annual “clean,” “no exceptions noted” audit report