RELATING TO THE UNIVERSITY OF HAWAII BOARD OF REGENTS INDEPENDENT AUDIT COMMITTEE.

Requires the independent audit committee chair of the University of Hawaii board of regents to be selected in a manner consistent with the board's bylaws. Limits the board of regent's flexibility to appoint members with certain skill sets to its independent audit committee. Clarifies the independent audit committee's role relating to enterprise risk management. Exempts the independent audit committee from chapter 91 and part I of chapter 92, HRS, in its discussions with auditors on matters that should remain confidential, in accordance with national best practices, and at the independent audit committee chair's discretion, allow the discussions to be held in the absence of the University of Hawaii president or chief financial officer. Effective 7/1/2060. (HD2)