AUDIT & RISK COMMITTEE MEETING

The board of trustees of the Alaska Mental Health Trust Authority has established an audit and risk committee to assist the board in managing the annual financial audit process and identifying and addressing organizational risk.

The role of the audit and risk committee will be to complete the following activities in consultation with the chief executive officer (CEO), chief financial officer (CFO), and others as necessary:

• Develop policies for managing the annual financial audit process;
• Ensure systems are in place to conduct a forward-looking analysis of organizational risk in the areas of finance, human capital, operations, technology, reputation, physical, governance, and management and to address identified risk;
• Annually review the organization’s risk management plan;
• Monitor the integrity of the financial reporting process and the system of internal controls and procedures regarding finance, accounting, and legal compliance;
• Review the performance and independence of the the Trust’s external auditors;
• Provide an avenue of communication among external auditors, management, CFO, and the board; and
• Provide the committee’s written input and feedback to the CEO in support of the annual performance evaluation of the CFO.