Audit Committee

Key responsibilities and activities:

• Assess and discuss with management Verizon’s significant business risk exposures (including those related to cybersecurity, data privacy, data security, bribery and corruption, and certain environmental and climate-related risks) and oversee management’s programs and policies to monitor, assess and manage such exposures
• Assess Verizon’s overall control environment, including controls related to financial reporting, disclosure, compliance and significant financial and business risks
• Appoint, approve fees for, assess the independence and oversee the work of the independent registered public accounting firm
• Oversee financial reporting and disclosure matters, including review of the annual and quarterly reports on Forms 10-K and 10-Q, earnings releases and guidance, and the process for the CEO and CFO certifications
• Oversee Verizon’s internal audit function and review significant internal audit findings and recommendations
• Assess Verizon’s compliance processes and programs, including the Code of Conduct
• Review the Chief Compliance Officer’s annual report regarding anti-corruption compliance, compliance with significant regulatory obligations, export controls, and data protection
• Assess policies and procedures for executive officer expense accounts and perquisites, including the use of corporate assets
• Assess procedures for handling complaints and confidential, anonymous employee submissions relating to accounting, internal accounting controls or auditing matters
• Review reports and disclosures of significant conflicts of interest and related person transactions