Company: FSHPU
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0001829126-25-001450
Chunk: 1090

Company: Flag Ship Acquisition Corp
Filing Date: 2025-03-04
Form: 10-K
Item: Item 9B
Chunk 1090
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 committee of a listed company be comprised solely of independent directors,
and NASDAQ rules require that the compensation committee of a listed company be comprised solely of independent directors.

Audit
Committee

The
members of our audit committee are Ms. Cui, Mr. Liu and Mr. He. Ms. Cui serves as chairman of the audit committee. Each member
of the audit committee is financially literate and our Board of Directors has determined that Ms. Cui qualifies as an “audit committee
financial expert” as defined in applicable SEC rules. We have adopted an audit committee charter, which details the principal
functions of the audit committee, including:

    ●
    the appointment,
    compensation, retention, replacement, and oversight of the work of the independent auditors and any other independent registered
    public accounting firm engaged by us;

    ●
    pre-approving all
    audit and non-audit services to be provided by the independent auditors or any other registered public accounting firm engaged by
    us, and establishing pre-approval policies and procedures;

    ●
    reviewing and discussing
    with the independent auditors all relationships the auditors have with us in order to evaluate their continued independence;

    ●
    setting clear hiring
    policies for employees or former employees of the independent auditors;

    ●
    setting clear policies
    for audit partner rotation in compliance with applicable laws and regulations;

    ●
    obtaining and reviewing
    a report, at least annually, from the independent auditors describing (i) the independent auditor’s internal quality-control
    procedures and (ii) any material issues raised by the most recent internal quality-control review, or peer review, of the audit firm,
    or by any inquiry or investigation by governmental or professional authorities, within, the preceding five years respecting one or
    more independent audits carried out by the firm and any steps taken to deal with such issues;

    ●
    reviewing and approving
    any related party transaction required to be disclosed pursuant to Item 404 of Regulation S-K promulgated by the SEC prior to us
    entering into such transaction; and

    ●
    reviewing with
    management, the independent auditors, and our legal advisors, as appropriate, any legal, regulatory or compliance matters, including
    any correspondence with regulators or government agencies and any employee complaints or published reports that raise material issues
    regarding our financial statements or accounting policies and any significant changes in accounting standards or rules promulgated