Hawaii Revised Statutes Division 1. Government § 304A-322

(a) In the event an investigation or audit performed by the independent audit committee, internal auditor, or external auditor, or any audit report reviewed by the independent audit committee finds significant issues with an operation or program of the University of Hawaii, including non-compliance or possible non-compliance with any applicable law, ordinance, rule, or regulation, or any applicable board of [regents] policy or executive policy of the university, and the findings recommend or warrant corrective or remedial action to be taken by the university, the independent audit committee shall immediately notify the board of regents in writing of the significant issue and the corrective and remedial action warranted or recommended to be taken.

(b) The board of regents, upon receipt of notice from the independent audit committee under subsection (a), shall:

(c) The board of regents shall review the progress reports submitted by the university pursuant to paragraph (b)(3) and take appropriate action to ensure timely implementation of the corrective or remedial action.

(d) Upon completion of the university's implementation of the corrective or remedial action, the board of regents shall take action to ensure that the underlying significant issue has been appropriately corrected and remedied.