Alaska Airlines and Horizon Air 2013 Annual Report Download - page 35
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CORPORATE GOVERNANCE
7. Take steps it deems necessary or
appropriate with respect to annual
assessments of the performance of the
Board and each Board committee,
including itself.
8. Annually review and reassess the
adequacy of the Committee’s charter
and its performance, and recommend
any proposed changes in its charter to
the Board for approval.
Audit Committee
Pursuant to its charter, the Audit Committee’s
responsibilities include:
1. With regard to matters pertaining to the
independent registered public
accountants:
a. appoint them and oversee their
work;
b. review at least annually their
written statement regarding their
internal quality-control procedures,
any material issues raised by their
internal quality-control review, and
all relationships between the
independent accountants and the
Company;
c. maintain a dialog with respect to
their independence;
d. pre-approve all auditing and non-
auditing services they are to
perform;
e. review annual and quarterly
financial statements and filings
made with the SEC;
f. receive and review communications
required from the independent
registered public accountants
under applicable rules and
standards;
g. establish clear hiring policies for
employees and former employees
of the independent registered
public accountants;
h. review audited financial statements
with management and the
independent registered public
accountants; and
i. receive and review required
communications from the
independent registered public
accountants.
2. With regard to matters pertaining to the
internal auditors:
a. review planned internal audits and
their results with the internal
auditors;
b. review the structure and resources
of the audit team; and
c. review any changes to the internal
audit charter.
3. With regard to matters pertaining to
controls:
a. review major financial reporting risk
exposure and adequacy and
effectiveness of associated internal
controls;
b. review procedures with respect to
significant accounting policies and
the adequacy of financial controls;
c. discuss with management policies
with respect to risk assessment
and risk management, including
the process by which the Company
undertakes risk assessment and
risk management;
d. discuss with management, as
appropriate, earnings releases and
any information provided to
analysts and ratings agencies;
e. develop, monitor and reassess
from time to time a corporate
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