InFocus Corporate Governance Guidelines provide the framework for the governance of InFocus Corporation. These policies provide a framework for the proper operation of our company, consistent with our shareholders’ best interests, the requirements of the law and the high ethical standards of InFocus.
Ensuring that InFocus’ financial results fairly reflect the results of our operations is of paramount importance to this company and our investors. At InFocus we have always been diligent in maintaining compliance with our established financial accounting policies, which are consistent with requirements of Generally Accepted Accounting Principles (GAAP), and for reporting our results with objectivity and the highest degree of integrity. We are committed to providing financial information that is transparent, timely, complete, relevant and accurate.
We are also committed to rigorously and diligently exercising our oversight responsibilities throughout the company, managing our affairs consistent with the highest principles of business ethics, and adhering to the corporate governance requirements of both federal law and the NASDAQ. The steps we have taken to fulfill this commitment include:
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Currently, all members of our Board other than the CEO are independent of the Company and its management;
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The Audit Committee of our Board has established policies consistent with the newly enacted corporate reform laws for auditor independence;
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All members of the key Board committees – the Audit, Compensation and Nomination Committees meet applicable tests for independence from InFocus’ management;
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KPMG, our independent accountant, reports directly to the Audit Committee.
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The independent members of the Board meet regularly without the presence of management;
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The Company has a clear code of ethics and conflict of interest policy to ensure that key corporate decisions are made by individuals who do not have a financial interest in the outcome separate from their interest as company officials;
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All employees must acknowledge annually knowledge and acceptance of the code of conduct.
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We have an ethics hot line available to all employees to facilitate anonymous reporting of any questionable activities.
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Through our internal audit control function, we monitor compliance with our global financial policies and practices over critical areas. These include internal controls, financial accounting and reporting, fiduciary accountability, and safeguarding of our corporate assets. The internal audit group reports directly to our Audit Committee.
We are dedicated to ensuring that the high standards of financial accounting and reporting we have established are maintained. Our culture demands integrity and an unyielding commitment to strong internal practices and policies. We have the highest confidence in our financial reporting, underlying system of internal controls and our people, who are objective in their responsibilities and operate under the highest level of ethical standards.
