SkyWest Airlines 2008 Annual Report Download - page 136

Download and view the complete annual report

Please find page 136 of the 2008 SkyWest Airlines annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 152

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152

PROPOSAL 3
RATIFICATION OF APPOINTMENT OF
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Audit and Finance Committee has recommended and approved the appointment of Ernst &
Young LLP as the Company’s independent registered public accounting firm (independent auditors) to
examine the consolidated financial statements of the Company for the year ending December 31, 2009.
The Company is seeking shareholder ratification of such action.
It is expected that representatives of Ernst & Young LLP will attend the Meeting and be available
to make a statement or respond to appropriate questions.
The Board and the Audit and Finance Committee Recommend that Shareholders
Vote FOR the Ratification of Appointment of
Ernst & Young LLP as the Company’s Independent Registered Public Accounting Firm
(Independent Auditors).
AUDIT & FINANCE COMMITTEE DISCLOSURE
Who served on the Audit and Finance Committee?
The members of the Audit and Finance Committee as of December 31, 2008 were W. Steve
Albrecht (Chair), Henry J. Eyring, J. Ralph Atkin and Robert G. Sarver. Each member of the Audit
and Finance Committee has been determined by the Board to be independent under the rules of the
Securities and Exchange Commission and The Nasdaq Stock Market. The Board has determined that
W. Steve Albrecht, who served on the Audit and Finance Committee throughout the year ended
December 31, 2008, is an ‘‘audit committee financial expert’’ as defined in Item 401(h) (2) of
Regulation S-K promulgated under the Exchange Act.
What document governs the activities of the Audit and Finance Committee?
The Audit and Finance Committee acts under a written charter, which sets forth its responsibilities
and duties, as well as requirements for the Audit and Finance Committee’s composition and meetings.
The Audit and Finance Committee charter is available on the Company’s Web site at www.SkyWest.com,
and is also available in print, free of charge, upon request. Requests for a printed copy of the Audit
and Finance Committee charter should be submitted to Eric D. Christensen, Corporate Secretary of
the Company, at 444 South River Road, St. George, Utah 84790.
How does the Audit and Finance Committee conduct its meetings?
During the year ended December 31, 2008, the Audit and Finance Committee met with the senior
members of the Company’s financial management team at each of its regular scheduled quarterly
meetings. The Audit and Finance Committee also met with representatives of Ernst & Young
(‘‘E&Y’’), the Company’s independent registered public accounting firm, at each of its in-person
meetings and met with representatives of Protiviti, Inc. (‘‘Protiviti’’), the Company’s principal internal
auditor, at several of the meetings. Agendas for the Audit and Finance Committee’s meetings are
established by the Chair of the Audit and Finance Committee, after consultation with the Company’s
Chief Financial Officer. At those meetings, the Audit and Finance Committee reviewed and discussed
various financial and regulatory issues, accounting and financial management issues, developments in
the accounting profession, as well as the Company’s industry, risk management and a summary of calls
received on the Company’s anonymous reporting line. The Audit and Finance Committee also had
36