Audit and Risk Management Committee

 ARMC Meeting Schedule 2023/2024

Please note these meeting dates and times are subject to change

•  ARMC Submission Form

Terms of reference of the Audit and Risk Management Committee:

Purpose

1.1  In accordance with Section 18 of Chapter 5 of Statute 25 of the University it shall be the duty of the Audit and Risk Management Committee to advise the Governing Authority on the audit of the resources of the University, to review the annual financial statements of the University and their format, and to advise the Governing Authority on maters relating to risk management. Where appropriate the Audit and Risk Management Committee will recommend that the Governing Authority approve a recommendation.  

1.2  The Audit and Risk Management Committee will also advise the Governing Authority on the strategic processes deployed by the University Management Team in the delivery of risk, internal control and governance across the University. 

1.3 The Audit and Risk Management Committee will approve maters relating to the scope and programme of internal audit activity within the University. 

Authority

4.1  The Committee must operate within the limits set by the Governing Authority in the Schedule of Reserved Decisions and Delegated Authority.  

4.2  The Committee is authorised by the Governing Authority to obtain outside legal or other independent professional advice in accordance with the procedures for obtaining such advice and to secure the attendance of outsiders with relevant experience and expertise if it considers this necessary, at the reasonable expense of the University. 

Duties

The  duties  of  the  Committee  relate to:  

5.1  Financial  Statements
5.2  External Audit
5.3  Internal Control
5.4  Internal Audit
5.5  Audit Coordination
5.6  Risk Management
5.7  Other Matters 

ARMC Terms of Reference (PDF)