State Compensation Insurance Fund
Board of Directors
Audit Committee
March 17, 2011
8:00 a.m.
Benicia Room, Milton Marks Conference Center
455 Golden Gate Avenue
San Francisco, CA 94102
COMMITTEE MEMBERS
Francis E. Quinlan, Chair
Steven L. Rank
William Zachry
James Richardson (Alternate)
| OPEN SESSION | 8:00 a.m. |
|
| Action/Frank Quinlan | 1. | Call to Order and Roll Call |
| Information/Frank Quinlan | 2. | Appointment of Vera De Martini as Secretary Pro Tem |
| Action/Frank Quinlan | 3. | Approval of January 20, 2011 Open Meeting Minutes |
| Attachment | ||
| Action/Carol Newman | 4. | Approval of Delegated Authority to Audit Chair related to non-audit services of external auditors (Oral) |
| Information/Leigh Wilson, KPMG | 5. | Overview of KPMG’s System of Quality Controls |
| Attachment | ||
| Information/Marie Wardell | 6. | Completed Closed Audits
|
| Attachment | ||
| Action/Frank Quinlan | 7. | Audit Committee Charter |
| Action/Marie Wardell | 8. | Revised Internal Audit Charter & Compliance with IIA Standards |
| Attachment | ||
Action/Frank Quinlan |
9. | Public Comment on Appropriateness of Closed Session for Items 12 through 15. |
| Information/Frank Quinlan | 10. | Public Comment |
| CLOSED SESSION | ||
| Action/Frank Quinlan | 11. | Approval of January 20, 2011 Closed Meeting Minutes |
| Information/Dan Sevilla | 12. | Model Audit Rule Report and Attestation of MAR Testing Update [Government Code Sections 11126 (j)(3)(4)] |
Information/Marie Wardell |
13. | Update on 2010 Outstanding Audits and Investigations
|
Information/Marie Wardell |
14. | Specialized Audit Training/Co-Sourcing |
Information/Maryann Lazernik |
15. | Anti-Fraud Strategy |
| OPEN SESSION | 9:45 a.m. or upon adjournment or recess of the Closed Session, whichever is later | |
| Action/Frank Quinlan | 16. | Call to Order and Roll Call |
| Information/Frank Quinlan | 17. | Committee Member Presentations |
| Information/Frank Quinlan | 18. | Proposals and Suggestions for May 12, 2011 |
| Next Committee Meeting May 12, 2011 | ||
Note: Items designated for information are appropriate for Board/Committee action if the Board/Committee wishes to take action. Any agenda item from a properly noticed Committee meeting held immediately prior to this Board meeting may be considered by the Board. Agenda items may be taken out of order with the approval of the Chairperson. Public comment will be limited to three (3) minutes per speaker and ten (10) minutes per subject item.
