Financial Audit Committee (FAC) Annual Leadership Seminar January 24-25, 2002

Financial Audit Committee Job 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 Committee Key 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