Alaska Airlines and Horizon Air 2013 Annual Report Download - page 50

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AUDIT COMMITTEE MATTERS
Company’s audited financial statements
included in the Company’s Annual Report on
Form 10-K for the fiscal year ended
December 31, 2013. The Committee
believes that management maintains an
effective system of internal controls that
results in fairly presented financial
statements.
The Audit Committee has discussed with
KPMG the matters required to be discussed
by the Public Company Accounting Oversight
Board (PCAOB) Auditing Standards No. 16
(Communications with Audit Committees),
as amended, as adopted by the PCAOB.
The Committee has also received and
reviewed the written disclosures and the
KPMG letter required by PCAOB Rule 3526,
Communicating with Audit Committees
Concerning Independence, and has
discussed with KPMG their independence.
Based on the review and discussions
described above, the Audit Committee
recommended to the Board of Directors that
the audited financial statements be included
in Alaska Air Group’s Annual Report on Form
10-K for the fiscal year ended December 31,
2013.
Audit Committee Charter
The Audit Committee has adopted a written
charter, which is posted on the Company’s
website at www.alaskaair.com. It describes
the roles of the Audit Committee and the
independent accountants (for which the
Audit Committee approves the appointment
and compensation and whom the Committee
oversees). In addition, it describes the Audit
Committee’s relationship to internal audit
and the Committee’s responsibilities with
regard to assessing the Company’s internal
controls and enterprise risk.
Audit Committee Independence and Financial
Expertise
All members of the Audit Committee meet
the independence, financial literacy and
experience requirements of the New York
Stock Exchange and of the Securities and
Exchange Commission. The SEC requires
that at least one member qualify as a
“financial expert” as defined pursuant to the
Sarbanes-Oxley Act. Ms. Bedient’s
experience as a public company chief
financial officer and former partner of a
global accounting firm and Mr. Yeaman’s
experience as a chief financial officer of a
public company qualify each of them as
financial experts.
Audit Committee of the Board of Directors
Patricia M. Bedient, Chair
Dennis F. Madsen, Member
Eric K. Yeaman, Member
ŠProxy
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