Company: BIAF
Filing Date: 2025-05-23
Form Type: PRER14A
Source: 0001641172-25-012315
Chunk: 22

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-05-23
Form: PRER14A
Chunk 22
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 responsibilities and the authority to act in relation to such responsibilities to one or more subcommittees
as the Audit Committee deems appropriate in its sole discretion.

The Audit Committee pre-approves all audit and permissible
non-audit services performed by the Company’s independent registered public accounting firm in order to assure that the provision
of such services and related fees do not impair the independent registered public accounting firm’s independence. The independent
registered public accounting firm must provide the Audit Committee with an engagement letter outlining the scope of the audit services
proposed to be performed during the applicable calendar year and the proposed fees for such audit services. If agreed to by the Audit
Committee, the engagement letter will be formally accepted by the Audit Committee as evidenced by the execution of the engagement letter
by the chairperson of the Audit Committee. The Audit Committee approves, if necessary, any changes in terms, conditions, and fees resulting
from changes in audit scope, Company structure, or other matters. The Audit Committee may grant pre-approval for those permissible non-audit
services that it believes are services that would not impair the independence of the independent registered public accounting firm. The
Audit Committee may not grant approval for any services categorized as “Prohibited Non-Audit Services” by the SEC. Certain
non-audit services have been pre-approved by the Audit Committee, and all other non-audit services must be separately approved by the
Audit Committee.

All of Withum’s services and fees in fiscal
years 2024 and 2023 were pre-approved by the Audit Committee in accordance with its pre-approval policy.

| 14 |

<div align='center'>AUDIT COMMITTEE REPORT</div>

The Audit Committee is responsible for providing objective
and independent oversight of the Company’s accounting functions and internal controls and is primarily responsible for overseeing
the Company’s financial reporting and disclosure process. A brief description of the Audit Committee’s principal functions
is provided in this Proxy Statement under the discussion of “Board Committees – Audit Committee.”

Under the Audit Committee’s Board-approved charter,
the tasks of the Audit Committee include but are not limited to: (i) selecting and retaining the Company’s independent registered
public accounting firm to act as the Company’s independent auditor; (ii) approving all audit engagement fees and terms; (iii) pre-approving
all audit and permitted non-audit and tax services that may be provided by the Company’s independent auditor or other registered
public accounting firms; (iv) evaluating the qualifications, performance, and independence of