approval prior to issuance and offer for sale of securities; however, the consideration process must not impose excessive obstacles or costs on the issuing companies. · The SEC requires that
not overlap duties of the management or the requested information should not be excessive. Q: Prior proposing to the board, shall the company has approval from audit committee in case it applies for a
philosophy , businesses should operate on the basis of fair advantage without seeking excessive profits at others’ expenses or overlooking possible social consequences or crises. Ethical and effective use