The Audit and Risk Committee provides an independent oversight of and advice to the Court on the adequacy and effectiveness of the University’s systems of internal control, approving appropriate levels of external and internal audit. The Committee acts as the Court’s independent scrutineer not only of the University’s financial systems, but also examines matters critically and is alert to potential areas of concern which could include such areas as fraud and malpractice. The Audit and Risk Committee also reviews and advises the Court on the adequacy and effectiveness of the University’s risk management, internal control systems and governance arrangements to promote efficiency, economy and effectiveness in order to secure value for money in all areas.
The Audit & Risk Committee commissions, receives and considers reports and recommendations for the improvement of systems of internal control along with management responses. It also reviews the University’s Strategic Risk Register to ensure the effectiveness of the University’s risk management framework and recommends the University’s Annual Report and Financial Statements to Court for approval.