The primary mission of the Board of Directors of AquaBounty Technologies, Inc. is to advance the interests of the Company’s stockholders through oversight of the management of the Company’s business affairs. The Board believes that this mission is best served by establishing a corporate culture of accountability, responsibility, and ethical behavior through the careful selection and evaluation of senior management and members of the Board and by carrying out the Board’s responsibilities with honesty and integrity.
The Audit Committee meets at least four times each year. The committee has the responsibility to consider and recommend to the Board the appointment of the Company’s external auditors and to review the interim statements and the annual accounts and any other formal statement relating to financial performance, before submission to the Board. The Chief Financial Officer and the external auditors may also attend a portion or all of the meetings of the Audit Committee as required.
The Compensation and Human Capital Committee
The primary responsibility of the committee is to determine the compensation of Directors and members of the executive management. The committee also reports to shareholders on behalf of the Board where required by the prevailing listing rules and codes of practice.
Corporate Governance and Nominations Committee
The primary responsibility of the committee is to advise the Board as appropriate concerning its composition and that of its committees and to recommend to the Board when new members should be added. Additional members of the Board may participate as needed.
Management is ultimately responsible for the Company’s system of internal controls and for reviewing and monitoring its effectiveness. The Company maintains a comprehensive process of financial reporting. The annual budget is reviewed and approved by the Board of Directors before adoption. The Board receives periodic reports of the Company’s operating performance compared against both the budget and the prior year’s results with explanations of significant variances.
The implementation, maintenance, review, and improvement of the Company’s internal controls are the responsibility of the Chief Financial Officer. The external auditors review the internal financial controls as a basis for determining the nature and extent of their audit testing procedures.
Compliance Reporting Hotline
AquaBounty maintains a confidential Reporting Hotline for employees and our agents and representatives to use to report confidentially and anonymously, where permitted by local law, reports of actual or potential violations of our Code of Business Conduct and Ethics, law, or other Company policy. The Reporting Hotline is available 24 hours a day, 7 days a week at US/Canada toll-free: 844.416.5241 or https://www.whistleblowerservices.com/AQB