Signed into law in 2002, the Sarbanes-Oxley Act establishes higher standards to which public companies must conform with regard to governance, disclosures and audit procedures. Although Alegent Health, as a not-for-profit organization, is not subject to many of the rules set forth by the Sarbanes-Oxley Act, we are committed to the highest moral and ethical business principles and have made special efforts to operate within the governance principles set forth in the Sarbanes Oxley Act.
For example, Alegent Health’s Finance and Audit Committee is comprised of independent directors who have a background in finance, and the Chair of the committee meets the financial expert standard established by the Sarbanes-Oxley Act. Alegent Health and its affiliates have adopted an integrated audit policy to assure that each of its affiliates has a state of the art financial audit. Alegent Health’s audit committee retains the outside auditor and approves all non-audit engagements.