State Compensation Insurance Fund
Board of Directors
Audit Committee
May 20, 2015
2:00 p.m.
State Compensation Insurance Fund
333 Bush Street, 7th floor
San Francisco, CA 94104
COMMITTEE MEMBERS
Sheryl A. Chalupa, Chair
Sen. Michael J. Machado (Ret)
Steven L. Rank
William M. Zachry
| OPEN SESSION | May 20, 2015 @ 2:00 pm | |
| Action/Sheryl Chalupa | 1. | Call to Order and Roll Call |
| Action/Sheryl Chalupa | 2. | Antitrust Admonition |
| Action/Sheryl Chalupa | 3. | Consent Calendar1 |
a. |
Approval of February 18, 2015 Open Meeting Minutes | |
b. |
Annual Review of Audit Committee Charter | |
c. |
Annual Review of Internal Audit Charter and Compliance with International Internal Audit Standards |
|
| Information/Dante Robinson | 4. | Completed Closed Audits |
| Information/Andreas Acker and
Dante Robinson |
5. | Whistleblower Hotline |
Information/Dante Robinson |
6. | Today’s Technology and State Fund: Increased Risk for Boards and Leaders (Identifying IT Risks) |
| Information/Sheryl Chalupa | 7. | Public Comment on Appropriateness of Closed Session for Items 10 through 16 |
| Information/Sheryl Chalupa | 8. | Public Comment |
| CLOSED SESSION | ||
| Action/Sheryl Chalupa | 9. | Approval of February 18, 2015 Closed Meeting Minutes |
| Information/Andreas Acker and Patrick Gage | 10. | Update on Personnel Investigations [Government Code Section 11126(a), (j)(4)] |
| Information/Dante Robinson and Luis Duran |
11. | Special Investigation Unit Update – 1st Quarter 2015 [Government Code Sections 11126(e), (j)(2), (4)] |
| Information/Dante Robinson and Gwillym Martin |
12. | Today’s Technology and State Fund: Increased Risk for Boards and Leaders (Oversight of IT Enterprise Risk) [Government Code section 11126(c)(18)(A), (j)(4)] |
Information/Dante Robinson |
13. | Internal Audit Report – 1st Quarter 2015 [Government Code Sections 11126(a), (j)(2), (3), (4)] |
| Information/KPMG | 14. | Report of External Auditor [Government Code Section 11126(j)(4)] |
| Information/Peter Guastamachio | 15. | Model Audit Rule (MAR) Update [Government Code Section 11126(j)(4)] |
Information/Sheryl Chalupa |
16. | Audit Considerations Related to the Strategic Plan [Government Code Section 11126(j)(4)] |
| OPEN SESSION | 4:15 p.m. or upon adjournment or recess of the Closed Session, whichever is later |
|
| Action/Sheryl Chalupa | 17. | Call to Order and Roll Call |
| Information/Sheryl Chalupa | 18. | Committee Member Presentations |
| Information/Sheryl Chalupa | 19. | Proposals and Suggestions for August 18, 2015 Agenda |
| Next Committee Meeting: August 18, 2015 at State Fund Corporate Office, 333 Bush Street, San Francisco, CA |
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1Items on the Audit Committee Consent Calendar include routine actions and will be enacted by one motion and one vote. There will be no separate discussion of these items unless a Committee Member or the public so requests. It is in the Committee’s discretion to remove items from the Audit Committee Consent Calendar. Any item removed from the Consent Calendar will be considered in its normal sequence on the agenda. If you wish to have an item removed from the Consent Calendar, please submit a speaker card or make your request at the time the Committee Chairperson asks if any member of the public wishes to remove an item from consent. After an item, if any, removed from the Consent Calendar has been discussed, the Committee will vote to approve all items remaining on the Consent Calendar.
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 the 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.
