The Audit Assurance and Risk Committee is chaired by a lay member of Council and comprises lay members of Council and co-opted lay members. All members are independent of the University's management, although senior executives attend meetings as necessary. The committee has a key role in the University's governance framework in ensuring that the University complies with Statutory, University and External Regulatory requirements in its financial and non-financial activities. In respect of the issues within its terms of reference, the committee has the authority to make recommendations to the University, its organisational units and its members.
During the 2021-22 academic session, the Committee held four meetings, which focused on matters with external auditors and advice to Council on their appointments; a review of the Internal Audit strategy and introduction of a new Internal Audit Governance Framework; reviewing the effectiveness of risk management arrangements, external auditors' management letter, internal auditors' annual report, and the management responses; overseeing the University's ethical and behavioural policies, including Whistleblowing, and Counter-Fraud; discussions relating to matters concerning external auditors, Head of Internal Audit, the Registrar and Chief Operating Officer and the Chief Financial Officer, and approval of the Annual Report to Council.