Company: BWXT
Filing Date: 2025-03-19
Form Type: DEF 14A
Source: 0001486957-25-000016
Chunk: 82

Company: BWX Technologies, Inc.
Filing Date: 2025-03-19
Form: DEF 14A
Chunk 82
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 Committee is to assist the Board in its oversight of BWXT’s financial reporting process, internal control system and audit functions. The Audit and Finance Committee also provides oversight of (i) BWXT’s compliance with legal and regulatory financial requirements; (ii) BWXT’s guidelines, policies and processes to assess and manage the Company’s exposure to risks in general, including financial risks; (iii) BWXT’s financial strategies and capital structure; and (iv) BWXT’s ethics and compliance program. The Committee’s principal responsibility is one of oversight. BWXT’s management is responsible for the preparation, presentation and integrity of its financial statements. Deloitte & Touche LLP (“Deloitte”), BWXT’s independent registered public accounting firm, is responsible for auditing and reviewing those financial statements. Deloitte reports directly to the Audit and Finance Committee, which is responsible for the appointment, compensation, retention and oversight of the independent registered public accounting firm.

The Audit and Finance Committee discussed with Deloitte the scope and plan for its audit and approved the terms of Deloitte’s engagement letter for the 2024 audit. In addition, the Audit and Finance Committee reviewed and approved the internal audit plan for 2024. The Audit and Finance Committee met and discussed with management, internal audit and Deloitte each quarter during the year, among other things:

• the clarity and completeness of the presentation of the Company’s financial statements, its financial position and performance for the reporting period;

• the assessment of the Company’s internal control over financial reporting;

• critical accounting policies, including key accounting decisions and judgments, critical accounting estimates and underlying assumptions, significant changes in the selection or application of accounting principles, alternative accounting treatments, and critical audit matter disclosure;

• the effect of regulatory and accounting initiatives on the Company’s financial statements;

• unadjusted audit differences noted or proposed by Deloitte during its audit; and

• any material written communications between management and Deloitte.

In this context, the Audit and Finance Committee reviewed and discussed BWXT’s audited consolidated financial statements for the year ended December 31, 2024 with BWXT’s management and Deloitte. This review included discussions with Deloitte regarding those matters required to be discussed by the applicable requirements of the Public Company Accounting Oversight Board (“PCAOB”) and the SEC. In addition, the Committee received from Deloitte the written disclosures and letter required by the applicable PCAOB standards and rules concerning Deloitte’s independence and discussed with Deloitte their independence from BWXT