Audit, Compliance, Risk, and Ethics (ACRE) Committee and Board of Retirement and Board of Investments Regular Meeting
The meeting included the review and approval of the Internal Audit Fiscal Year Ended 2026-2027 Proposed Audit Plan and the discussion of salary placement for the Chief Ethics and Compliance Officer. Additionally, the committee discussed the extension of the ACRE Committee Consultant Agreement and considered the recommendation for the appointment of an external quality assessment vendor. Reports were provided on the Ethics and Compliance Program foundational work plan status, internal audit performance, and various follow-up reports regarding operational and IT audit recommendations.
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Audit, Compliance, Risk, and Ethics Committee Meeting
The committee discussed the initiation of an external quality assessment for the internal audit division, following a five-year cycle and addressing recent organizational changes. The committee approved the issuance of a Request for Proposal to select an independent assessor, with plans for committee member participation in the evaluation process. Additionally, an audit regarding public disclosure forms was presented, covering key forms regulated by the Fair Political Practice Commission, including forms 700 and 801, which ensure transparency in financial interests and third-party benefits.
Apr 8, 2026·Board meeting
Board of Investments Regular Meeting
The meeting included reports on market performance, with a discussion on credit portfolio yield and the challenges of market timing. The Chief Investment Officer provided updates on the pension and OPEB fund performances, including high-water mark achievements. The member spotlight recognized a retired LA County Sheriff's Department clerk for her years of service. Additionally, the board approved a one-year extension for private equity consulting services and approved a slate for the fiduciary counsel panel.
