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Duties and responsibilities

The Audit Committee is a fundamental element in the University's assurance, internal control and reporting systems. Throughout the year, the Committee closely scrutinizes internal audit reports, considering not just the matters specific to individual reports, but also any trends across reports in order to identify and address any systemic failures. Risk management and value for money are standing items on the Audit Committee's agenda.

The Committee makes annual reports of its findings to the University Council, the Vice-Chancellor and to HEFCE.

​The formal duties of the Audit Committee are set out in Chapter XIII (Finance and Property) of the University's Statutes and Ordinances as follows:

  1. to keep under review the effectiveness of the University's internal systems of financial and other control;

  2. to advise the Council on matters relating to the external and internal auditors, including their appointment, the provision by the auditors of any additional services outside the scope of their regular responsibilities, the remuneration of the auditors, and any questions relating to the resignation or dismissal of auditors;

  3. to ensure that sufficient resources are made available for internal audit;

  4. to approve proposals for internal audit put forward by the internal auditors;

  5. to review annually with the external auditors the nature and scope of the external audit;

  6. to consider any reports submitted by the auditors, both external and internal;

  7. to monitor the implementation of any recommendations made by the internal auditors;

  8. to satisfy themselves that satisfactory arrangements are adopted throughout the University for promoting economy, efficiency, effectiveness, and risk management;

  9. to establish appropriate performance measures and to monitor annually the performance and effectiveness of the external and internal auditors;

  10. to consider, in consultation with the external auditors, (i) any financial statements annexed to the abstract of accounts, including the auditors’ report, and (ii) any statement provided by the Council on the governance of the University;

  11. to ensure that all significant losses are properly investigated and that the internal and external auditors, and where appropriate the Higher Education Funding Council for England, are informed;

  12. to oversee the University's policy on fraud and irregularity, and to ensure that they are informed of any action taken under that policy;

  13. to make an annual report to the Council, the Vice-Chancellor, and the Higher Education Funding Council for England;

  14. to receive reports from the National Audit Office and the Higher Education Funding Council for England, and to advise the Council thereon;

  15. to forward minutes of their meetings to the Council.

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