The following policy addresses certain limitations on Howmet Aerospace Inc. (the Company) with respect to hiring members (or former members) of Howmet Aerospace independent auditors.
The Audit Committee of the Board of Directors is responsible for engaging an independent auditing firm to perform an independent audit of Howmet Aerospace financial statements. The purpose of this policy is to ensure that the Company does not take any employment action or actions that would impair the auditing firm’s independence.
- Howmet Aerospace will not hire the lead partner, the concurring partner or any other member of the audit engagement team who provides more than ten hours of audit, review or attest services for Howmet Aerospace within a two (2) year period following his or her association with the audit. The hiring limitation applies only to roles responsible for Financial Reporting Oversight at the Howmet Aerospace consolidated level, which include the following positions:
- Chief Executive Officer;
- Chief Financial Officer;
- Controller/Chief Accounting Officer;
- Manager of External Reporting; and
- Any other position having direct responsibility for oversight or preparation of Howmet Aerospace financial statements and other financial information included in publicly filed documents.
- Howmet Aerospace may hire a former audit engagement team member into a financial reporting oversight role as long as two years have elapsed since the filing of the audit report for the year in which the former engagement team member participated in the audit. Consultation with and approval by Howmet Aerospace's Chief Financial Officer is required to hire any former audit engagement team member to a financial reporting oversight role at Howmet Aerospace.