University of Technology Sydney UTS Governance Support Unit


GSU home
About GSU
Academic Board
Council
Meeting dates
Agenda and papers
Minutes
Town Hall meetings
Roles and contact
Committees of Council
Audit and Risk
Commercial Activities
Finance
Governance
Honorary Awards
Joint Subcommittee of Audit and Risk and Finance
Nominations
Physical Infrastructure
Remuneration
Social Justice
Student/Council Liaison
Indigenous committees
Official UTS publications
Privacy at UTS
Procedures
Right to information
Student misconduct and appeals
Style guide
UTS Annual Report
Site map
Other GSU websites
•  Elections website
•  Legislation, Rules and Policies website
•  University Records website
Audit and Risk Committee

The Audit and Risk Committee provides independent assurance and assistance to the Council in relation to the university’s risk, control and compliance framework, and its external accountability responsibilities.

2019 meeting dates

Wednesday 6 February
Tuesday 2 April
Tuesday 28 May
Tuesday 23 July (Reserve)
Tuesday 24 September
Tuesday 12 November

Time: meetings commence at 10am

Membership

Position Member Current term 1
Chair Michelene Collopy ongoing
Member (Council, who is also a member of Finance Committee) Catherine Livingstone, AO ongoing
Member Chris Westworth ongoing
Member Terry Rooney ongoing

1. ‘Ongoing’ membership terms are from 1 November 2018 until Council otherwise makes a determination.


Positions on the Committee are in accord with its composition.

Committee contact

Richard Birrell
Manager, Policy and Secretariat
Tel: 02 9514 1249
Email: Richard.Birrell@uts.edu.au

Terms of reference

A. The primary responsibility of the Committee is to assist Council in overseeing the activities undertaken by the UTS body corporate and, from time to time, other related entities as requested by Council.

B. The Committee shall:

  1. assist Council in discharging its responsibility to exercise due care and skill in relation to UTS’s risk, control and compliance framework, and its external accountability responsibilities;
  2. ensure an independent and effective internal audit program is delivered;
  3. liaise with the external auditor to ensure effectiveness of the external audit;
  4. monitor management’s responsiveness to the findings and recommendations of b) and c);
  5. consult with the Finance Committee, External Auditor and the Internal Auditor on the auditing of the university’s accounts and the outcomes of those audits;
  6. review and provide advice to Council and to the Finance Committee on the annual financial statements and other relevant documents;
  7. review the Risk Management Policy at least biennially and oversee the university’s effectiveness in managing its financial and business risks, including fraud;
  8. review litigation where feasible and practicable, which management believes is likely to have a material effect on financial affairs or reputation.

C. The Committee may report to Council on any matter, however shall at least advise Council on items b), c) and d) above.

D. The Audit and Risk Committee may request and/or receive advice from management or Committees to enable it to conduct its specific function of broadly monitoring UTS risk.

E. The Audit and Risk Committee may request information from Council or be requested by Council to consider any matter (which may or may not be relevant to other Committees).

F. The Committee operates under a formal Charter.

Charter

The UTS Audit and Risk Committee Charter (185kb PDF) sets out the committee’s objectives, authority, composition and tenure, roles and responsibilities, reporting and administrative arrangements.

The Internal Audit Charter (121kb PDF) sets out the roles, responsibilities, standards of practice and reporting requirements of the university’s Internal Audit function.

Composition

The Audit and Risk Committee consists of the following positions:

  • Chair: an external member of Council, appointed for expertise in audit and risk
  • At least three, but no more than five, other members, of whom:
    • all should have strategic management expertise and experience in accounting, auditing or risk
    • up to two should be members of Council with qualifications and experience related to the operations of the university
    • at least one should be a member of the Finance Committee (whether or not they are also a member of Council)
    subject to the majority of Committee members being independent.