SkyWest Airlines 2011 Annual Report Download - page 162

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• Based on E&Y’s experience, and their knowledge of the Company, do the Company’s financial
statements fairly present to investors, with clarity and completeness, the Company’s financial
position and performance for the reporting period in accordance with GAAP and Securities and
Exchange Commission disclosure requirements?
• Based on E&Y’s experience, and their knowledge of the Company, has the Company
implemented internal controls and internal audit procedures that are appropriate for the
Company?
• During the course of the applicable year, has E&Y received any communication or discovered
any information indicating any improprieties with respect to the Company’s accounting and
reporting procedures or reports?
The Audit and Finance Committee has also discussed with E&Y that they are retained by the
Audit and Finance Committee and that they must raise any concerns about the Company’s financial
reporting and procedures directly with the Audit and Finance Committee. Based on these discussions
and its discussions with management, the Audit and Finance Committee believes it has a basis for its
oversight judgments and for recommending that the Company’s audited financial statements be
included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2011.
What has the Audit & Finance Committee done with regard to the Company’s audited financial
statements for the year ended December 31, 2011?
The Audit and Finance Committee has:
• Reviewed and discussed the Company’s audited financial statements with the Company’s
management; and
• Discussed with E&Y the matters required to be discussed by Statement on Auditing Standards
No. 61, Communication with Audit and Finance Committees, as amended and as adopted by the
Public Company Accounting Oversight Board.
Has the Audit and Finance Committee considered the independence of the Company’s independent
registered public accounting firm?
The Audit and Finance Committee has received from E&Y the written disclosures and the letter
required by Independence Standards Board Standard No. 1, Independence Discussions with Audit and
Finance Committees, and has discussed with the firm its independence. The Audit and Finance
Committee has concluded that E&Y is independent from the Company and its management.
Has the Audit and Finance Committee made a recommendation regarding the audited financial
statements for the year ended December 31, 2011?
Based upon its review and the discussions with management and the Company’s independent
registered public accounting firm, the Audit and Finance Committee recommended to the Board that
the audited consolidated financial statements for the Company be included in the Company’s Annual
Report on Form 10-K for the year ended December 31, 2011.
Does the Audit and Finance Committee provide a periodic report of its activities to the Board?
The Audit and Finance Committee provides reports of its activities at each regularly scheduled
Board meeting.
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