Middlesex University


Financial Statements 2015/16


Corporate governance Membership of the Board of Governors Board of Governors – Trustees and Members during 2015/16,


including the period up to the approval of the financial statements Mr Colin Hughes (Chair)


Mr Peter Thomas (Deputy Chair) Professor Tim Blackman Ms Donna Beamish Mr Nick Fuller


Ms Firoozeh Ghaffari Mr Sulaiman Lkaderi


Professor Martin Loomes Professor Angela McFarlane Ms Marianne Neville-Rolfe Mr Ross Porter


Ms Geraldine Proudler Mr Alan Riddell Mr Nik Rochez Mr Jaz Saggu


Mr Aman Siddiqi Mr Martin Taylor Mr Tevin Tobun


Independent governor Independent governor Vice-Chancellor Staff governor


Independent governor Staff governor


Student governor


Academic Board nominee Independent governor Co-opted governor Staff governor


Independent governor, Chair designate Independent governor Independent governor Independent governor Student governor


Independent governor Independent governor


Appointed 1 July 2016 Demitted office 31 May 2016


Appointed 4 July 2016


Demitted office 16 May 2016


Demitted office 4 July 2016


Demitted office 6 September 2016 Demitted office 30 June 2016


Appointed 19 September 2016


Statement of the responsibilities of the Board of Governors


The Board of Governors conducts periodic reviews of effectiveness in accordance with the CUC Code of Practice. The last review was completed in 2015. The next review is due in 2019.


In accordance with the University’s Instrument and Articles of Government, the Board of Governors is responsible for the administration and management of the University’s affairs, including ensuring an effective system of internal control, and is required to present audited financial statements for each financial year.


The Board of Governors is responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the University and


to enable it to ensure that the financial statements are prepared in accordance with the University’s Articles, the Statement of Recommended Practice on Accounting in Further and Higher Education Institutions and other relevant UK accounting standards.


In addition, within the terms and conditions of the memorandum of assurance and accountability agreed between the Higher Education Funding Council for England (HEFCE) and the Funding Agreement with the National College for Teaching and Leadership (NCTL) and the University’s Board of Governors, the Board of Governors – through its designated accountable officer – is required to prepare financial statements for each financial year which give a true and fair view of the University’s state of affairs and of the surplus or deficit and cash flows for that year.


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