Company: COPL-UN
Filing Date: 2025-04-01
Form Type: S-1/A
Source: 0001829126-25-002247
Chunk: 259

Company: Copley Acquisition Corp
Filing Date: 2025-04-01
Form: S-1/A
Chunk 259
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. Because we expect to list our
securities on NYSE in connection with our initial public offering, our audit committee must have one independent member at the time of
listing, a majority of independent members within 90 days of the effective date of our registration statement, and consist of all independent
members within one year of the effective date of our registration statement. Mr. Djebbari, Ms. Fannin and Dr. Meng each meet the independent
director standard under NYSE’s listing standards and under Rule 10A-3(b)(1) of the Exchange Act, and Mr. Djebbari will serve
as chairman of the audit committee.

Each member of the audit
committee is financially literate and our board of directors has determined that Mr. Djebbari qualifies as an “audit committee
financial expert” as defined in applicable SEC rules.

We will adopt an audit committee
charter, which will detail the principal functions of the audit committee, including:

| ● | assisting board oversight of (i) the integrity of our financial                                                                       
 statements, (ii) our compliance with legal and regulatory requirements, (iii) our independent registered public accounting firm’s     
 qualifications and independence, and (iv) the performance of our internal audit function and independent registered public accounting 
 firm;                                                                                                                                 |

| ● | 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; |

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| ● | 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