The Audit Committee is
responsible to the University Council for reviewing the adequacy and
effectiveness of the University's system of internal control and
risk management, governance and value for money arrangements.
Secretary to the Committee:
If you would like further information about the work of the Audit
Committee, or if you would like to submit an agenda item for consideration,
please contact Clare Henderson (ext 3400, or email m.c.henderson@bath.ac.uk).
Membership 2012/13
Terms of office expire on 31st July in the year stated.
| Mrs R Foreman (Chair) | Lay member of Council, appointed by Council | 2014 |
| Dr M Hipkins | Lay member of Council, appointed by Council | 2013 |
| Mr T Sheppard | Lay member of Council, appointed by Council | 2015 |
| Mr P Freeman | Lay member of Council, appointed by Council | 2014 |
| Mr D Lynch | Co-opted member | 2013 |
| Mrs S Pennie | Co-opted member | 2014 |
The following Officers routinely attend meetings of the Committee:
| Professor Dame Glynis Breakwell | Vice-Chancellor |
| Mrs D Aderyn | Director of Finance and Commercial Services |
| Mr M Ricketts | Head of Internal Audit |
| Mr M Williams | Chief Financial Officer |
Terms of Reference
Approved by Council in May 1988, Revised 13th May 2005, 23rd October 2008
and 25th February 2010.
- To advise the Council on the appointment of the External Auditors,
the audit fee, the provision of any non-audit services by the External
Auditors and any questions of resignation or dismissal of the External
Auditors.
- To discuss with the External Auditors, before
the audit begins, the nature and scope of the audit.
- To discuss with the External Auditors problems and reservations
arising from the interim and final audits, including a review of
the management letter incorporating management responses, and any
other matters the External Auditors may wish to discuss (in the
absence of management where necessary).
-
To consider and approve the appointment and terms of engagement of the Internal Audit Service (and the Head of Internal Audit, if applicable), the audit fee, the provision of any non-audit services by the Internal Audit Service and advise Council of any concerns about the resignation or dismissal of the Internal Audit Service (and the Head of Internal Audit, if applicable).
- To review the Internal Auditors’ audit risk assessment,
strategy and programme; to consider major findings of internal
audit investigations and management's response; and to promote co-ordination
between the internal and external auditors. The Committee will ensure
that the resources made available for internal audit are sufficient
to meet the institution’s needs (or make a recommendation
to Council as appropriate).
- To keep under review the effectiveness of the risk management,
control and governance arrangements, and in particular to review
the External Auditors’ management letter, the Internal Auditors'
annual report, and management responses.
- To monitor the implementation of agreed audit-based recommendations,
from whatever source.
- To ensure that all significant losses have been properly investigated
and that the internal and external auditors, and where appropriate
the HEFCE accounting officer, have been informed.
- To oversee the institution’s policy on fraud and irregularity,
including being notified of any action taken under that policy.
- To
satisfy itself that suitable arrangements are in place to promote
economy, efficiency and effectiveness.
- To receive any relevant reports from the National Audit Office,
HEFCE and other organisations.
- To monitor annually the performance and effectiveness of External
and Internal Auditors, including any matters affecting their
objectivity, and to make recommendations to Council concerning their
reappointment, where appropriate.
- To consider elements of the annual financial statements in
the presence of the External Auditors, including the auditors’ formal
opinion, the statement of members’ responsibilities and the
statement of internal control, in accordance with HEFCE’s
Accounts Directions. The Committee to consider the final version
of the audited financial statements after they have been submitted
to Finance Committee.
- In the event of the merger or dissolution of the institution,
to ensure that the necessary actions are completed, including arranging
for a final set of financial statements to be completed and signed.
- Wednesday 12 June 2013
- Wednesday 24 April 2013
- Wednesday 23 January 2013
- Tuesday 13 November 2012 (Special)
- Wednesday 3 October 2012
The minutes and summaries of meetings of Audit Committee are not published here because they contain information which the University has declared will not be routinely published under the Freedom of Information Act 2000. Further information about the Act (including the reasons why such information is exempt from publication) is available at http://www.bath.ac.uk/foi/faqs-staff-general.htm. If you have any queries about the business conducted by the Committee, please contact Clare Henderson (ext 3400, or email m.c.henderson@bath.ac.uk).
Procedural Rules
Membership and Appointment of Chair: Four lay members of Council,
appointed by Council on the recommendation of the Nominations Committee,
one of who is appointed Chair of the Committee by Council on the recommendation
of the Nominations Committee. Two co-opted members who are not members
of Council, co-opted by Council on the recommendation of the Nominations
Committee.
Co-option: See Council Standing Orders 16(iv) and 16(v).
Alternates: See Council Standing Order 17(iii) to (vi).
Quorum: One third of the membership (Council Standing Order 16(vi)).
Rules for voting: None specified.
Minutes: To Council (and Finance Committee for information).
Notes
- To ensure independence of the Audit Committee, it is currently best practice that all of its members should be independent and non-executive. The view of the Higher Education Funding Council of England (HEFCE) is that Staff of an institution are not independent.
- None of the members of the Committee may also be members of the Finance Committee.
- The Chair of Council may not be a member of the Committee.
- The Committee must consist of members with no executive responsibility for the management of the institution. Members should not have significant interests in the institution.
- At least one of the members will have recent and relevant experience in finance, accounting and auditing.
- The term of office for both lay members and co-opted members of the Committee is three years (renewable).
Reporting Procedures
- The minutes of meetings of the Committee will be submitted to Council and then to Finance Committee (for information).
- The Committee
will prepare an annual report covering the institution’s
financial year and any significant issues up to the date of preparing
the report. The report will be addressed to Council and the Vice-Chancellor,
summarising the activity for the year. It will give the Committee’s
opinion on the adequacy and effectiveness of the institution’s
arrangements for the following:
- Risk management, control and governance (the risk management element includes the accuracy of the statement of internal control included with the annual statement of accounts)
- Economy, efficiency and effectiveness (value for money). This opinion should be based on the information presented to the Committee. The Audit Committee Annual Report should normally be submitted to Council before the members’ responsibility statement in the annual financial statements is signed.
- Management and quality assurance of data submitted to HESA
(Higher Education Statistics Agency), HEFCE and other funding
bodies.