HI SB741

Establishes an External Audit Committee within the University of Hawaii to audit both the Board of Regents and the entire University of Hawaii system

Committee membership includes the state auditor, one gubernatorial appointee, one appointee by the chief justice, and other members invited by the committee as appropriate

Committee is subject to ethics requirements (Chapter 84) but exempt from administrative procedures and open meetings laws when discussing confidential matters or investigating potential civil or criminal conduct

Committee must meet at least twice annually, conduct annual self-effectiveness reviews, and engage in enterprise risk management oversight

Annual report with findings, recommendations, and proposed legislation required to be submitted to the governor, chief justice, and legislature at least 20 days before each regular legislative session