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Leven on her informative report on the rotation of independent auditors which responds fully to the Committee's request. The Committee considered that report in detail. After discussing a wide variety of considerations, the Committee agreed to meet again exclusively on this topic in its own executive session before making a recommendation to the Board of Regents.

The meeting of the Committee adjourned at approximately 10:15 a.m., with the understanding that the staff will make recommendations for the date and topics of its next regularly scheduled session.