MINUTES OF THE MEETING OF THE BOR COMMITTEE ON UNIVERSITY AUDITS March 11, 2009 Bachman 209 University of Hawai‘i The Audit Committee Meeting was called to order at 8:45 am. Regents in attendance: Regents James Haynes, II, Ronald Migita, Howard Karr. Also in attendance: Board Secretary Presley Pang, Internal Auditor Elaine Chun, and Personnel Specialist Brenda Shin. Secretary Pang explained that this meeting is organized in two parts. In the first part, the committee will focus on the filling the vacant position of the director of the office of internal audits. Several candidates will be interview for the position, and these interviews will be conducted in executive session. In the second part of the meeting, the committee will be briefed on the status of audit reports for the University Bond System and on the consolidated financial statements. This briefing will be done in a public session. At 9:05 a.m., upon motion by Regent Karr, and second by Regent Migita, and there being unanimous accord, the Committee moved to executive session pursuant to HRS § 92-5(a)(2) to evaluate candidates for the position of Director of the Internal Audit Office. At 12:15 p.m., the Committee recessed from executive session and returned to public session. Vice President Howard Todo briefed the Regents on the status of the audit reports on the University Bond system and the consolidated financial statements of the University. VP Todo explained ...
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