The Audit Committee of the Board

The Audit Committee assists the Board in monitoring Altria Group's financial reporting processes and systems of internal accounting control, the independence and performance of Altria Group's independent auditors, the performance of the internal auditors, and the Company's compliance with legal and regulatory requirements.

The Committee consists of five independent directors, including at least one financial expert, its Chair, George Muñoz, Principal, Muñoz Investment Banking Group, LLC, Washington, DC, and partner in the Chicago-based law firm of Tobin, Petkus & Muñoz. Mr. Muñoz is the former Chief Financial Officer and Assistant Secretary of the United States Treasury Department.

The Committee’s responsibilities include:

• Appointing, compensating, retaining and overseeing the work of Altria Group’s independent auditors, PricewaterhouseCoopers LLP (PwC). The Committee pre-approves each audit and non-audit service provided by PwC and the fees for such services.
• Evaluating the independent auditors’ qualifications, performance and independence.
• Reviewing and discussing, with the independent auditors and with management, the results of the annual audit of the Company’s consolidated financial statements and the Company’s interim financial results.
• Reviewing and discussing, with management, the independent auditors and the internal auditors, the quality and adequacy of the Company’s financial reporting processes, internal controls and disclosure controls and procedures.
• Monitoring and evaluating the performance of Altria Group's Corporate Audit department. The Audit Committee reviews and discusses the department’s planned audit activities, including the responsibilities and staffing of its audit organization, and receives regular reports of the results of completed audits.
• Evaluating the implementation and effectiveness of Altria Group’s Compliance and Integrity program and the adequacy of resources for compliance. The Audit Committee reviews and discusses with the Executive Vice President and Chief Compliance and Administrative Officer the plan, activities, responsibilities and staffing of the Compliance function. 

For a more detailed description of the Audit Committee’s responsibilities, please read the Audit Committee Charter.

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Related Information

On Altria.com:

• Corporate Governance
• Compliance & Integrity
• Managing Responsibility