The measures we have undertaken to execute this commitment include:
- A majority of our Board members should be independent of the Company and its management;
- The Audit Committee of our Board oversees the accounting and financial reporting processes and audits of our financial statements. The responsibilities of our Audit Committee are described in the Audit Committee Charter adopted by our Board;
- Our independent registered public accounting firm, BPM LLP, reports directly to the Audit Committee;
- The independent members of the Board meet periodically without the presence of management;
- All transactions between the Company and any related party are reviewed and must be approved by the Audit Committee;
- We have established a Code of Business Conduct and Ethics, which mandates that decisions and assessments affecting the Company be made by individuals who do not have a personal financial interest that is distinct from the Company’s interest in the matter; and
- We utilize a whistleblower reporting web site (the “Whistleblower Site”) where an individual may report any suspected illegal or unethical behavior or other violations of the Company’s Code of Business Conduct and Ethics directly to the Audit Committee. The Whistleblower Site is located at http://www.mosys.ethicspoint.com, and additional information can be found in the Company’s Code of Business Conduct and Ethics.
We would like to reiterate our commitment and responsibilities to our stockholders, first and foremost. We strive to provide complete, fair, accurate and understandable information at all times to ensure that our stockholders have fair access to such information. We have the highest confidence in our financial reporting, underlying system of internal controls and our people, who are responsible and operate under the highest level of ethical standards. The confidence our stockholders have placed in our company is a responsibility we take very seriously.