Audit and Scrutiny Committee

Audit and Scrutiny Committee provides independent assurance to assist Council in fulfilling its regulatory responsibilities.

Role of the Audit Committee in Higher Education Institutions

The University’s Audit Committee was established in its current form in June 2006 in response to the requirements of HEFCE, the regulator at that date, as set out in HEFCE’s ‘Financial Memorandum’ and specifically its annex the ‘Audit Code of Practice’. As HEFCE amended its memorandum, including re-naming it the ‘Memorandum of Assurance and Accountability’, so the terms of reference of the ASC were also amended. The Office for Students initially adopted the Memorandum in full as part of its carried forward powers and this was in effect up until the end of the financial year ending 31 July 2019.

From 2019/20, there is no longer an explicit set of requirements issued by the OfS for internal audit and audit committees, however the University has retained the features from the HEFCE Audit Code of Practice as the basis for the activity of the Audit and Scrutiny Committee. These have been adjusted to take into consideration recommendations for Audit Committees from the Committee of University Chairs (CUC) (May 2020). View the Committee of University Chairs Higher Education Audit Committees Code Comparison Table.

The Audit Code of Practice sets out in detail the composition and terms of reference considered by HEFCE as appropriate for an Audit Committee. The role of the Audit Committee is to report annually to the institution’s governing body its conclusions on the adequacy and effectiveness of the institution’s arrangements for the following:

• risk management
• control
• governance
• economy, efficiency and effectiveness (value for money)
• management and quality assurance of data submitted to HESA HEFCE (now OFS) and other funding bodies.

To incorporate CUC best practice, the scope of the Committee was extended in 2020 to also include:

• compliance with the  legal and regulatory framework the University operates within (this includes the culture and behaviour that is prevalent within the institution and arrangements that can affect reputation);
• ethical and other behaviours, including whistleblowing;
• sustainability 

The University’s Audit and Scrutiny Committee

The Audit and Scrutiny Committee meets at least 4 times a year, with special meetings held as required.  The Committee reports to Council its annual opinion on the elements mentioned above, and makes additional reports to Council when necessary. The membership of the Committee includes a majority of external members and three members elected by Congregation. It is chaired by an external member of Council.

The Committee’s Regulations specify its role in providing independent assurance to assist Council in fulfilling Council's responsibilities for ensuring the adequacy and effectiveness of the University’s policies and processes, and its compliance with its statutory obligations. The Committee's Standing Orders are available (SSO only).