University Council

Audit & Risk Committee

Current Members

    Term Expires
Chair Mr Harvey Gibson 31 December 2015
Chair of Finance Committee* Mr Paul Gregg 31 December 2015

Up to 3 other members

(appointed by council)

Mr Glenn Appleyard
Ms Brenda Richardson
Dr Sarah Jennings

31 December 2014
31 December 2014
31 December 2014

Secretary Ms Belinda Webster  
Attendees:

Vice-Chancellor
Provost
Chief Operating Officer
Chief Financial Officer
Director, Risk & Audit


Professor Peter Rathjen
Professor Mike Calford
Mr David Clerk
Mr Craig Barling
Mr Alastair McDougall

 

* The Chair of Finance Committee is not expected to attend every meeting of Audit & Risk Committee.

Terms of Reference

Purpose/ Objectives

To ensure all higher level risks of UTAS enterprise, business activity, work practice and work place, are identified, assessed, mitigated and managed. In this there is the very clear intent to-

  • heighten awareness and
  • more rigorously manage risks

at every level across all UTAS academic, research and administrative and support service streams (including outsourced and partnership activities).

Scope

To consider all risks for UTAS across academic, research, administrative and support service streams (including institutes, outsourced & partnership arrangements).

Goals

  • UTAS is supported with a contemporary risk management system that involves all stakeholders and meets standards criteria around the levels of awareness, implementation and evaluation.
  • UTAS is supported with a contemporary internal audit program that provides-
    • Adequate depth and breath of internal audit control coverage, for all higher level risk core business systems compliance ( ensuring systems are both in place and adhered to)
    • Adequate depth and breath of internal audit control coverage, for all higher level risk core IT systems compliance ( ensuring systems are both in place and adhered to)
    • Targeted internal audit and review of projects & activities that carry higher level risks.
  •  UTAS external audit program is contemporary & appropriate to our needs and findings are communicated and acted upon.
  • Both internal and external audits are acted upon as part of a system of continuous improvement.

Key Functions

  • Key functions relating to
    contemporary risk management include ensuring -
    • Ensure there is a system including clear documentation & support tools to enable all stakeholders to identify, assess, mitigate & manage risks
    •  Ensure there is an awareness program to support stakeholders with the system
    • All UTAS enterprise, academic, research, administrative & support service streams implement the risk management system
    • The effectiveness of the risk management system, its activities and components are evaluated on an ongoing basis.
  • internal audit include ensuring -
    •  there is a contemporary internal audit system established that covers core activities as well as the financial activities of boards, centres, institutes & other Council controlled entities operating outside the triennial budget.
    • there is both a three yearly strategic and an annual internal audit plan established that meets UTAS's business & IT compliance and risk based internal audit program needs
    • the plan is implemented and adjusted as required
    • internal audit findings are communicated & acted upon.
  • external audit include ensuring-
    • external auditors are aware of key UTAS business issues
    • an appropriate external audit plan is agreed in advance
    • the plan is implemented and adjusted as required
    • external audit findings are communicated & acted upon.

Direct Reporting Relationship

The committee recognises that the Manager Risk Management and Audit Assurance has , in addition to any other internal reporting lines for that position, a direct reporting line to the Chair of the Audit Committee as and when required in the course of carrying out the functions of that position.

Lifecycle

The Audit & Risk Committee has an ongoing lifecycle with a major review of its role and function in 2012.

Evaluation

On an annual basis if not more frequently the Audit & Risk Committee will review its performance against its performance requirements and report its findings to the UTAS Council.

Meeting Dates

Meeting dates for all Council committees can be found here.

Please use the attached template for submitting papers to Council and its committees [Word 250KB] 
Any submissions should be sent to the Vice-Chancellor's Office, Private Bag 51, Hobart 7001 or Vice.Chancellor@utas.edu.au 

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