Our board of directors is responsible for creating the framework for corporate governance that ensures that our business conduct aligns with our objectives and is in the best interest of our stakeholders. Good corporate governance extends beyond ideas and value statements and ensures that we follow significant legal and regulatory requirements that hold our directors and officers accountable for the company’s financial condition.
All members of the audit committee are “independent” as defined by our charter and the New York Stock Exchange and have significant financial and/or accounting experience. The audit committee assists our board of directors in overseeing and monitoring (1) the systems of our internal accounting and financial controls; (2) our financial reporting processes; (3) the independence, objectivity and qualification of our independent auditors; (4) the annual audit of our financial statements; and (5) our accounting policies and disclosures.
Our board of directors has delegated to the investment committee certain responsibilities with respect to investment in specific investments proposed by our advisor, and the authority to review our investment policies and procedures on an ongoing basis. The investment committee must at all times comprise of at least three members, a majority of whom must be independent directors.
Our Code of Ethics outlines the expectations for honest and ethical conduct between personal and professional relationships; full, fair, accurate, timely and understandable disclosure in reports and documents filed with the SEC and in other public communications; compliance with applicable laws and governmental rules and regulations; and prompt internal reporting of violations of the Code.