Audit Committee Charter
The Audit Committee (“Committee”) of Esports Entertainment Group, Inc. (“Company”) is appointed by the Board of Directors (“Board”) to discharge the Board’s responsibilities relating to oversight of the following:
- The integrity of the Company’s financial statements and financial reporting processes;
- The Company’s internal accounting systems, financial and operational controls;
- The qualifications and independence of the independent auditor;
- The performance of the Company’s Internal Audit function and the independent auditor; and,
- The Company’s compliance with the Code of Business Ethics, and legal and regulatory requirements.
In fulfilling its duties, the Committee will maintain free and open communication between the Board, the independent auditor, Internal Auditors and management of the Company.
The Committee will be composed of at least three directors, two of whom satisfy the definition of “independent” under the listing standards of the NASDAQ.
In addition, members of the Committee may not accept any consulting, advisory, or other compensatory fee from the Company (other than in their capacity as a member of the Board or one or more of the Board’s committees) and may not be affiliated persons of the Company or its subsidiaries.
All Committee members will be financially literate and will have sufficient knowledge of financial matters to enable them to carry out the responsibilities of the Committee. At least one member of the Committee will be a “financial expert”.
The Committee members will be appointed by the Board and may be removed by the Board in its discretion.