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.
The committee normally meets four times a year. During the 2019-20 academic session, the committee held three meetings including one at which the external auditors were present to discuss the audit findings and to review the University's financial statements and accounting policies as well as the annual audit plan, and with the Head of Internal Audit to consider detailed internal audit reports and to reveiw internal control systems and to address recommendations for the improvement of such systems.