Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 1224

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 2
Chunk 1224
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    reviewing our internal financial, operating and accounting controls with management, our independent registered public accounting firm and our internal audit provider;

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    reviewing with management and our independent registered public accounting firm, as appropriate, our financial reports, earnings announcements and our compliance with legal and regulatory requirements;

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    periodically reviewing and discussing with management the effectiveness and adequacy of our system of internal controls;

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    in consultation with management and the independent auditors, reviewing the integrity of our financial reporting process and adequacy of disclosure controls;

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    reviewing potential conflicts of interest under and violations of our code of conduct;

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    establishing procedures for the treatment of complaints received by us regarding accounting, internal accounting controls or auditing matters and confidential submissions by our employees of concerns regarding questionable accounting or auditing matters;

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    reviewing and approving related-party transactions; and

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    reviewing and evaluating, at least annually, our audit committee’s charter.

With respect to reviewing and
approving related-party transactions, our audit committee will review related-party transactions for potential conflicts of interests
or other improprieties. Under SEC rules, related-party transactions are those transactions to which we are or may be a party in which
the amount involved exceeds the lesser of $120,000 or 1% of the average of our total assets at year-end for the last two completed fiscal
years, and in which any of our directors or executive officers or any other related person had or will have a direct or indirect material
interest, excluding, among other things, compensation arrangements with respect to employment and Board of Directors membership. Our audit
committee could approve a related-party transaction if it determines that the transaction is in our best interests. Our directors are
required to disclose to this committee or the full Board of Directors any potential conflict of interest, or personal interest in a transaction
that our Board of Directors is considering. Our executive officers are required to disclose any related-party transaction to the audit
committee. We also poll our directors on an annual basis with respect to related-party transactions and their service as an officer or
director of other entities. Any director involved in a related-party transaction that is being reviewed or approved must recuse himself
or herself from participation in any related deliberation or decision. Whenever possible, the transaction should be approved in advance
and if not approved in advance, must be submitted for ratification as promptly as practical. The Company has written policies and procedures
with respect to related person transactions for managing