Company: PFSA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001013762-25-004396
Chunk: 762

Company: Profusa, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 762
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and applicable SEC rules, we are required to have at least three members on the audit committee. The rules of Nasdaq and Rule 10A-3 of
the Exchange Act require that the audit committee of a listed company be comprised solely of independent directors. Dr. Chung, Mr. Johnson
and Mr. O’Rourke qualify as independent directors under applicable rules. Each member of the audit committee is financially literate
and our board of directors has determined that Dr. Chung 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 registered accounting firm 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 registered accounting firm or any other registered public accounting
firm engaged by us, and establishing pre-approval policies and procedures;

●reviewing
and discussing with the independent registered accounting firm 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 registered accounting firm;

●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 registered accounting firm describing (i) the independent registered
accounting firm’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 registered accounting firm, 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 by the Financial Accounting Standards Board, the SEC or other regulatory authorities.

Compensation