Audit Committee Agenda 05-16-2012

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State Compensation Insurance Fund
Board of Directors

Audit Committee

May 16, 2012
2:00 p.m.

State Compensation Insurance Fund Office
333 Bush Street, 7th floor
San Francisco, CA 94104

COMMITTEE MEMBERS
Francis E. Quinlan, Chair
Steven L. Rank
William M. Zachry
Sheryl A. Chalupa (Alternate)

AGENDA

OPEN SESSION

May 16, 2012 @ 2:00 pm

     
Action/Frank Quinlan 1. Call to Order and Roll Call
     
Action/Frank Quinlan 2. Antitrust Admonition
     
Action/Frank Quinlan 3.

Approval of February 16, 2012 Open Meeting Minutes

     

Information/Dante Robinson

4. Completed Closed Audits
     

Action/Frank Quinlan

5. Review of Committee Size
     

Information/Frank Quinlan

6. Public Comment on Appropriateness of Closed Session for Items 9 through 16.
     
Information/Frank Quinlan 7. Public Comment
     
CLOSED SESSION    
     
Action/Frank Quinlan 8. Approval of February 16, 2012 Closed Meeting Minutes
     

Information/Dante Robinson

9.

Update on 2012 Audit Plan and Outstanding Audits
[Government Code Sections 11126(a), (j)(2), (3), (4)]

     

Information/Dante Robinson

10. Report on External Audits
[Government Code Sections 11126(a), (j)(2), (3), (4)]
     

Action/Frank Quinlan

11. Review of Audit Committee Agenda
[Government Code Section 11126(j)(4)]
     
Information/Dan Sevilla 12. Model Audit Rule (MAR) Report and Attestation/Compliance
[Government Code Section 11126(j)(4)]
     
Information/Dan Sevilla 13. Pension and Other Post Employment Benefits (OPEB) Update
[Government Code Section 11126(j)(4)]
     

Information/KPMG

14. Report of External Auditor – Audit of the Financial Statements
[Government Code Section 11126(j)(4)]
     

Information/Maryann Lazernik

15. Pending and Potential Fraud Criminal and Civil Litigation
[Government Code Sections 11126(e), (j)(2), (4)]
     

Information/Frank Quinlan

16. Audit Considerations Related to the Strategic Plan
[Government Code Section 11126(j)(4)]
     
OPEN SESSION 4:30 p.m. or upon adjournment or recess of the Closed Session, whichever is later
     
Action/Frank Quinlan 17. Call to Order and Roll Call
     
Information/Frank Quinlan 18. Committee Member Presentations
     
Information/Frank Quinlan 19. Proposals and Suggestions for August 16, 2012 Agenda
     
    Next Committee Meeting August 16, 2012

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.

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