Regents conducted another meeting at 9 a.m. where they accepted the Advisory Task Group's report. The report was made public soon afterward.
Regents were also expected to discuss the future of UH President MRC Greenwood behind closed doors.
Greenwood has become embroiled in the concert fiasco that prompted an investigation by the state Senate after Jim Donovan was relieved from his position as athletics director.
Donovan was exonerated of any wrongdoing after it was found he had no direct role in the wiring of funds to Epic Entertainment.
Donovan was then offered, and accepted, a public relations position within the office of the UH Manoa Chancellor Tom Apple at an annual salary of more than $211,000 for the next three years.
Sheriff was also suspended from his duties as arena manager, but was allowed to resume his role after he was cleared of any direct involvement in the promotional concert.
However, the report by the independent panel placed blame for the concert fiasco back on Donovan, Sheriff, Associate Athletic Director Carl Clapp, and Assistant Athletic Director for Business Tiffany Kuraoka.
"There was a series of, we describe it (as) multiple situations, where policies and practices either were not followed, or there weren't policies and practices for the people to exactly perform their duties," said Rodriguez.
Still, University of Hawaii Professional Assembly Executive Director JN Musto believes ultimate responsibility for the concert fiasco rests with Greenwood, even if the UH president had no role in organizing or authorizing the event.
"I'm sure that (Greenwood) may have not been aware of any of this going on," Musto told reporters. "However, to be the chief executive officer of an organization, as Harry Truman said, 'Means the buck stops here.'"